Repossession

Can they repossession your car from a title loan?

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2012-03-20 20:50:00
2012-03-20 20:50:00

Yes. They can! The car is their equity basically!

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You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.


When you purchased the car, you may have received a lien title from the state. This is not a clear title of ownership. The lender in essence still owns the vehicle, at least part of it. It is held in security for the loan. If you are a repossession company or agent, you will be required to have an order of repossession. But, if you are a repossession company or agent, you should already know this.


The repossession laws will vary with each city/state. A title loan company can't repo a car if the payment is not yet due unless the car is behind on payments.


The repossession stays on your credit report for 7 years.


'Title Loan' is a loan you will be getting of having a car loan on your on name.


Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.


Sell it for what you owe if it is possible. Pay off the loan, get the title and sign it over to the new buyer. If you cannot get what you owe, then get as much as you can. Get a personal loan from the bank to pay of the remaining balance. The personal loan is better than the amount you owe on the car.


The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.


No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.


You should be able to get a car loan with a qualified cosigner. Even with a repossession on your credit you should be able to finance a car loan.



You are still expected to pay the loan or come up with the unit. If you sold it, and the title loan company sends out an order for repossession, whomever they repo it from is going to come after you for having their car taken from them. If its "gone" then they will file a writ of replevin and file a judgement against you. Either way, you signed a contract and you are expected to pay.


Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.


car is in wifes and my name, she got a title loan unknowingly from the husband. She defaulted, can they take the car from the husband?


You can you take out a loan if you own the car and have the free and clear title by going to a high-risk lender. This type of loan is called a title loan, and the lender will put his name on the title to your car until the money is repaid.


You pay the balance of the unpaid loan to the bank, request a release of title to the estate of the deceased person, purchase the vehicle from the estate for at least one dollar, do a transfer of title to your name, and register the vehicle.Anything less or different may result in the repossession of the vehicle.


If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.


Loan paid off. Car totaled need title for insurance companyl


As long as you have a clear title in your name, you can get a Title Loan.


yes if you are lucky enough. I guess nationwide car loan executives are very smart enough to give you car title loan even if you are having bad payday loan.


You cannot "sell" a car without the title because the title is proof of ownership. Without the title the buyer can't register and insure the car.


The bank receives the title until the loan is paid. If the loan is paid off then you receive the title.


Pay it off, voluntary repossession, sell the car and pay it off.


Assuming you used the car's title to guarantee the loan - IF you fail to repay the loan, they can repossess your car ANY time they want to ! The title of the car remains the property of the loan company until you repay your debt.




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