The answer depends on the laws in your state.
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
They can repossess with any amount owed if unpaid.
Yes, the finance company can repossess the car from the body shop. They would likely wait for the car to be fixed before they repossess the car.
Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.
They don't repossess cars that are paid off. So your best bet is to call them and see if they want to deal with you. Usually, if they've gone to the trouble to repossess it, they won't deal with you.
Can the police repossess your car? Can the police repossess your car?
If you have not fully paid for the car, it is not yours. The loan papers allow you to use the car until it is paid for; without the agreement you have nothing.
Read the contract. If the second car is connected to the first, yes. Otherwise, not without a judge signing off.
You need to ask an attorney. In general, for a secured loan (title of the car is the security) if the loan is not paid, the leinholder (the bank) takes back the property they have not been paid for.
It is possible for someone to come onto private property in order to possess your car in North Carolina. If you have not paid you car off, it is never yours until it is paid off.
Yes, the loan is not paid in full if there are unpaid lates fees
Randy borrowed $9000 to buy a new car. So far he has paid $1800 of his loan back. What percent of the loan is paid off?
Hey Hun, if you do not make the payments they will come to repossess your car.
No. The lienholder is the only entity with a right to repossess.
Why would they NOT be able to repo a car they purchased the title to? READ your contract.
The bank doesn't own the car. Unless you used it as an asset, or collateral for a loan from them, they should have no hold on that.
If you are up to date with your repayments then the finance company are unable to repossess your vehicle. If you have defaulted on your payments then they are able to repossess the car, the number of missed repayments which qualifies for repossession will be stipulated on the agreement you signed when you first purchased the vehicle.
If you still owe on the car (whether matured or not), the bank can take it if you don't pay. It belongs to them until the loan is paid and the title is sent to you.
Not Fraud, but Grand Theft Auto. The car is the property of the Finance Company, until the loan has been paid off. Then, and only then is the title to the car passed to you.
A car can be repossessed if the payments are not being made. It really doesn't matter whether it was bought by one person or two. The car dealer just wants to be paid.
The state doesn't repossess your car - private companies do that on behalf of the lienholder. They don't charge you for private property left in your car when they repossess it - that would be illegal. They charge a "storage fee" for the items they remove from your car. Underhanded, yes, but they can legally do it.
Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.
No, you dont even need keys to repossess a car in South Carolina
They won't repossess it for your license being suspended, but they can repossess it when you fail to make payments, regardless of what the current status of your license is.