Law & Legal Issues
Can a vehicle with a lien on it be impounded and sold?
Asked in Repossession, Liens
Will an impounded vehicle be turned to the lien holder?
Not unless the lien holder goes and retrieves it from impound themselves. The reimbursement of government fees (federal, state, or municipal) outweighs the priorities of the lienholder. When a vehicle goes into impound, the agency which impounded the vehicle puts their own lien on it, and that lien takes priority over the original lien. If the vehicle is not retrieved from impound, it will be auctioned off, and the lien holder basically gets shafted in the process. The person who took the lien out on the vehicle will owe the remaining balance still, and one of the money the agency auctioning the vehicle makes will go towards reducing the amount owed to the lien holder. To that end, you're better to let the lien holder repossess the vehicle and auction it, rather than have it impounded.
Asked in Deeds and Ownership
Can you go to jail if you sell a car with a lien on it?
Asked in Law & Legal Issues, Liens
How much can a vehicle be sold for once a lien has been secured?
Asked in Rules of the Road, Local Laws
How can you lien holder reposses car if car was impounded due to buyer lost drivers license?
As the lien holder of the vehicle, they are contacted by the proper authorities that their asset (the said vehicle) is at an impound lot accuring fees. Because the lien holder is in essence the true owner of the vehicle until the loan is paid off & the lien is released, they have the right to reposses the vehicle from the impound. This is in the best interest of the lien holder because if fees add up, it may not be worth picking up in the end. What many debtors do not realize is that if they do not redeem the vehicle from the lien holder once it is picked up from impound, the vehicle is sold at auction to the higgest bidder & that is in turn applied towards the debtors deficiency balance.
Asked in Child Support, Liens
How do you sell a car that has a child support lien on it?
Asked in Liens
Can you put a second lien on a vehicle in Indiana?
Asked in Repossession, Liens, Civil Process
Can a repair shop place a lien on a vehicle they do not hold in their possession?
Asked in Drunk Driving (DWI or DUI)
Can a vehicle be impounded or forfeited for a dui?
Asked in Property Law, Liens
What does this property in a LIEN SOLD status mean?
Asked in Vehicle Titles, Liens
How do you receive a vehicle title that still has a lien?
Asked in Recreational Vehicles (RVs)
Can a Thirity Thousand dollar MotorHome be sold for just the impound fees of Three Thousand Dollars?
Asked in Car Selling, Loans, Debt Collection, Liens
How can you ensure a valid sale of a vehicle if you cannot pay off the existing lien?
Does a finance co have the right to repo your vehicle if impounded by police?
Absolutely. Here's the thing of it - as long as they hold a lien on it, it is not YOUR vehicle - the finance company is the sole legitimate owner of it until you pay off that lien. When a vehicle gets impounded, there's a limited window in which it can be reclaimed before they auction it off - the priority of the state collecting on a debt outweighs those of private institutions, and they can sell the car with the purchaser being free and clear the moment they buy it and effectively break the finance company's lien on the vehicle. The finance company isn't going to be keen to let this happen, and will take steps to ensure that it doesn't, including repossessing a vehicle they fear will be lost in impound.
Asked in Repossession, Rules of the Road
Your car was impounded and your husband had extraordinary license inclusive have you got rights what can you do?
Asked in Repossession
Is bank liable for lot rent prior to date of repossession?
Your question is a bit confusing. There are a couple possible scenarios, and a couple of possible answers. If you rent a parking space, and the vehicle is repossessed, then no. The lenderis not responsible for the debt you encurred. If the vehicle has been impounded, and has remained in storage long enough to have accrued storage fees, then the bank must pay those fees before they can recover the vehicle. However, those fees will be transferred to you, the contracted borrower and the person who allowed the vehicle to be impounded. If the vehicle is being held on a mechanic's lien, the same situation. The bank will pay the lien and transfer that cost to you.
Asked in Liens
Can a creditor place a lien on a vehicle you once owned but sold?
Asked in Auto Loans and Financing, Repossession, Liens
Can the lien holder take the car form the impound before the 30 day hold is up?
While I am not familiar with this "30 day hold," but the lien holder of a vehicle may take possession of the vehicle at any time after the loan has been defaulted. That is if you the borrower go delinquent on payments, and the vehicle is impounded (potentially for parking violations or excess unpaid tickets), the lien holder will receive notice. Actually they receive notice of impound even if you are not delinquent. If the lien holder pays the outstanding impound and storage fees, they may take possession of the vehicle.