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Yes most likely. If the lender is still on the title, if not then they cannot, without some sort of court order.
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∙ 12y ago
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Do you have to pay the whole vehicle off if it is repossessed?
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
Your vehicle was repossessed and sold at the auction after the fees you still owe 292 how will this reflect on your credit IF you pay it off?
It will show as paid or satisfied.
Do you have to pay the difference on a repossession car loan?
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
In illinois isnt it illegal if a car is repossessed with the plates still on it?
No, if it was it would be impossible to repossess a vehicle because no one would ever take them off.
In California what happens if a vehicle has been charged off and it has been over a year and you still have it but there has been no contact or correspondence from the bank regarding a repossession?
It might get repossessed.
What will happen if your car is repossessed in NC?
Either you'll get your payments current plus repossession fees, or your vehicle will be auctioned off, and you'll still be liable for the remaining balance after the auction.
After a vehicle is repossessed and you pay it off in full when does the lender have to return the vehicle to you is it as soon as its paid off or can they take a few days to return it?
If the vehicle is paid it is yours you should not have to wait any amount of time.
How do you get a title for a car that has been charged off for non payment?
Pay it off. It will still likely be repossessed.
After your vehicle is repossessed and the car has been auctioned off can arrangements be made for the remainder of the loan balance?
The vehicle was repossessed for non-payment of the lease, correct? You still owe all the money to the lender, even though you no longer have the car. You signed a written agreement with the lender promising to pay a certain amount each month for how ever many months were in the lease. You breached that written contract by not paying the monthly lease - Just because the car is taken away from you does not absolve your financial responsibility to pay for the remaining parts of the lease.
After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
Will you be notified where the auction of your repossessed vehicle takes place?
likely NOT. TFC uses a wholesale auction and you wont get in. If you want to redeem your vehicle just pay it off.
Can your car be repossessed if there are children's safety seats in the vehicle?
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.
