Best Answer


User Avatar

Wiki User

8y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can you repossess a car which you sold to a friend with a written contract stating that if payments are not made as agreed car will be repossessed?
Write your answer...
Still have questions?
magnify glass
Related questions

Will you lose your car if you are late on a car loan by two or three payments and a letter was sent stating you are in breech of contract but you are going to make the payments up to date?

Until you get paid up to date, your car can and probably will be picked up.

If your car is repossessed do you have to pay the balance?

you'll owe what's left on the contract after the vehicle is sold (probably through auction). Example: you owe $2500, the car sells at auction for $500, you owe $2000 because you signed a contract stating you'd pay a certain amount, that's what the creditor is after.

If your car was repossessed is there a law stating how much a finance company can sue you for after it has sold the car?

Sure is, they can get a judgment for the balance due on the loan minus what the car sold for PLUS any fees incurred(repo,attorney,auction,ect.) It should be in the contract you signed.

Can you be evicted if you are late with the full amount of rent but r making payments?

Vague, confusing question. If the LL accepts a late partial payment, he can still sue the tenant for non payment. UNLESS he writes new contract stating he will not do so.

Can a finance company repossess your car because you lose your job?

Yes. Normally if you are 3 months behind the finance company can take back the collateral. This is a default. Remember, you signed a contract with the bank stating that you would make your payments. It's not their fault you can't pay. However, any decent bank should be able to work with you in the event you lost your job. The key here is to communicate with them and don't dodge their phone calls. If you are honest with them, you can normally buy yourself a couple of months.

If your car is repossessed and you pay off the balance in full to get the car back is the 3-year factory warranty still in effect?

Repossession normally doesnt effect the warranty unless there is some clause in the contract stating otherwise, as long as the title stays in the same name(original warrantee)

Is it illegal for a towing company to charge you a fee for your possessions from a repossessed vehicle stating it is a cleaning fee and storage fee in the state of CA?


If you are behind two payments and the repo company calls stating they are taking the car but you can wire the money two days later will they still repossess the car?

Carla, the LENDER is the only one who can stop the repo. CALL THEM ASAP and be VERY convincing if ya wanta keep the car. Otherwise you will be back on your feet again. Good Luck

How would an incarsarated family member return a new car to the dealership?

Well first off, it's not like he could get a refund. If he is simply going to let it get repossessed, he can have someone else drop it off & he can send the lienholder a letter stating he is voluntarily letting them repossess the vehicle, along with location of where it was left. Voluntary repossessions avoid additional charges, towing, repossession fees,etc.

How do you sue for work not completed?

if u had a contract stating the work would be completed, yes

Can an employer stop matching contributions?

Yes, unless you have an employment contract stating otherwise.

Can you back out of a signed contract within 24 hrs?

You can only back out of a signed contract, if the contract states there is a backout clause. If there is no clause stating you may back out of the deal within 24 hour, you are liable for the contract signed.