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No, the vehicle is not the property of the borrower until the loan has been paid in full. The vehicle belongs to the lender/lien holder who can take whatever action they choose as long as it is allowed by the state law where the vehicle was purchased.

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Q: Can you require the lender to sell your car at a public auction instead of private?
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Is the lender required by law to notify you of the date and place of a private sale or auction?

legis.state.ga go here and search on repossession


What determines if a car will be sold at public auction or a private sale after it is repossessed?

The LENDER. Lenders tend to have deals with auction companies. ALL repo'd cars go to auction, most of which are dealer only. You should be able to ask your bank where it went, then call that auction to see if it public or dealer only.


What is a private loan lender?

A private loan lender is a lender that is acting on behalf of a privately owned organization or business, as opposed to a government regulated or non profit lender.


Can you consolidate Private student loans into federal student loans?

no. you will have to consolidate separately. with a federal lender then a private lender.


How do you receive your loan personally instead of through the school?

Apply directly with a private lender. Expect it to cost more then one certified by your school.


Is it possible to refinance a house with a lien attached?

Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.


In order to buy a house does one have to rent first and save up money?

Most lenders require a down payment when buying a home. The amount varies from lender to lender but the average is around 20% of the purchase price. If you put less down they will require you to pay for private mortgage insurance.


Do I need to have proof of financing to bid at a foreclosure auction?

To bid at a foreclosure auction you will need a $5,000 cashier’s check payable to yourself , a blank personal check , a valid ID (government issued) a pre-approval letter from your lender or prequalification documents from the auction lender.


Can a transfer student apply for a loan to attend a new school and use some of that loan to pay for something last semester at his old school?

For federal loans that require a FASFA, NO. For private loans, ask the private lender.


How do you get finance for buying property at auction?

Just contact your lender and get a preapproval letter for the amount you can get lending for. then obtain your loan once the auction is final.


How can one learn more about a lender's credit source?

One can learn more about a lender's credit source from websites such as Buzzle, Private Mortgage Lending and Private Money Lenders UK. One can also learn about it from Private Loan Lender website and Yahoo website.


If car is at auction lot can you get car back?

Possibly, You need to talk to the lender, immediately.