Andrea, it is NOT impossible, just VERY difficult to buy a home after a repo. MORE DP and HIGHER interest rates are common. Same with a car. You may not get exactly what you want cause the lender and seller knows you are not in the best shape financially. Balance due on the repoed car?? Well, the lender will get a judgement, ask you to pay again then get serious with the collection efforts. This includes garnishment of your wages, attachment of other valuable property you may have. Get ready to sweat for whatever you get. Good Luck
When a car has been repossessed the person paying the insurance should cancel it.
I have a welding machine on the truck they repossessed can they keep that?
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.
You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.
You don't. The car will go to an auction, and the highest bidder will win it.
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
Of course, it won't legally be your car however.
No, since the car is no longer considered "your" property.
Buying a repossessed car today can be a great way to save money, but be careful to inspect the car to be sure there are no hidden problems since they are typically sold "as is". Some dealers specialize in repossessed cars and you can also find them at a local auction.
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.
if i get my car repossessed, can they put a llien on the house?
Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.
Repossessors are supposed to notify law enforcement when they repossess a car.
No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.
No, but your car can be repossessed if you don't make the payments.
ONLY IF YOU GET THEM FIRST IF THEY TOW THE CAR YOUR OUTA LUK
Buy a bus pass. Or get ahold of your lender and see what they want to get the car back.
if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed
Can I get my personal property from the car if it has already been repossed without paying a fee?
Without proper permission (in writing) to take your car after it's been repossessed, it is considered stealing. Anything from jail time to a hefty fine. If it's been repo'd, it's not yours anymore.
If your car was repossessed, they will sue you for the difference in what the car sells for and the balance on the loan, plus repossession fees.
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.
Call the lender they will tell you.
If the dealer calls you after the car has been repossessed, then you should inform them that you no longer have the car. They can contact the finance company to verify the information.
Yes, there are some instances that a person can get a repossessed car back in the state of Iowa. If the person pays all the money owed plus a repo fee, the car may be returned.