Damien, as long as you are behind, they can repo. read your conract where it mentions "DEFAULT". If you are in default, they have the right to repo. Whether or not they do repo depends on many variables. Basiclly, they have to at least think there is a chance that you WILL pay so they dont repo. PAYING is the best way to make the lender think you will pay. LOL Good Luck and get your personal property out of the car until you get caught up.
YES if you are in default of your agreement they can attempt repossession and repossess your car. Your contract specifies what a default means. In practice they only repossess at 60 days past due but not always.
NO THEY CANNOT PUT A WARRENT OUT OR HAVE YOU ARRESTED FOR GRAND THEFT AUTO. Usually a repossession precedes a court order meaning they need no court order to repossess. As a result if you prevent repossession and hide the car you are not violating criminal law.
Once they are unable to take the car and its obviously hidden however they can get a court order and the sherriff's department takes over and demands you return the car. If you still dont then you are generally charged for contempt of court...but continued failure to return the car on court order could constitute theft.
But in your situation NO THEY CANT PRESS CRIMINAL CHARGES
Oh yes they can.
Some states, such as Georgia, have criminal code sections for "Concelement of property subject to security interest", and do not require contempt of court to have someone charged. A lienholder or their represenative can file an application for a warrant with the magistrate judges office, and the judge will set a date to hear it. (usually within a day or so) They are required to, as it is a state law with a code section, and if it is proven to have been violated, they have no choice but to issue a warrant, by their legal duty.
Before you say it can't happen, I know it can. Yes, you be criminally charged for conceling a vehicle from the lienholder, as I have seen it happen more than once.
Only if you stopped making payments and are behind on your on your payments.
No, They would have to be behind on the car payment The above is not always the case. It can depend on what the car was impounded for. If it was impounded for something like drugs where asset forfeiture comes into play then yes the finance company can take the car regardless of payment status. The reason for this is because there are times when the authorities will tell the finance company that if the vehicle is returned to the registered owner the finance company will lose their rights to it as well. The finance company does not have to hand their collateral back to you if it means loss of collateral, it is their car after all.
If you are up-to-date then no, if you are a cosigner there may be complications...
YES, it is.
Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.
Yes. A dirt bike is the same as a street bike or any other type of vehicle. if you miss the payments, and the financier wants to exercise his rights to seizure, he can do so. If you are behind on payments the best thing to do is contact your finance company and explain your circumstances to him. There are probably options available to avoid repossession. The last thing any finance company wants to do is repossess their property.
It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.It depends on what you consider harassment. They can demand that you pay your mortgage if you are behind in your payments.
It is better to finance an auto purchase with a high down-payment and a low monthly payment, because it is less likely for you to fall behind on your payments and acquire debt.
No to both questions. But the repossession agent has access to all that information and then some.
In Tennessee, a truck or car finance company can hire a repossession company to take your vehicle if you do not make payments and are in default. They are not able to break into a locked garage to take your vehicle and they cannot forcibly remove a person from behind the wheel of the car.
Make a deak with your finance co to pay off the payments you are behind. Caution...Don't refinance for lower payments or they will stick you for high interest added. Negotiate with the lender.
Usually they aren't that nosy because it doesn't apply to them.
I do not understand how you can be in posession of the title when the vehicle is financed. The vehicle title is alwaysheld by the finance company until all payments are made and the loan balance is paid in full.As for locating the vehicle you will need to talk to your son, or let the finance company repo experts locate it and get it back then.
HECK NO, they have lots of legal remedies but that is not one of them.
Yes, your car can be repossessed by a company if you are behind on payments. However, it has to be a licensed repossess to be able to do this.
You will make up the payments in the refinancing deal--check with your current mortgage company. Hopefully, you have some equity that will cover this and the cost of refinancing.
Anywhere between 30 days and 90 days. Usually the latter in most cases. If you are falling behind, talk to the finance company and explain the situation. If someone is upfront with them and discusses this early on, then some different arrangements might be able to be made. To the finance company, just stopping the payments without any explanation, means to them that you no longer want the car, so they will take it back, and you will lose all the money you have paid up to that point. Also, it's not "your" vehicle - you don't own it until the Lien is removed from the title. To own a car means you possess the title. The finance company owns the car until it is paid off.
Yes, Almost every Auto finance note contains language that requires you to maintain "Full Coverage" Auto Insurance for the term of your finance note. It just part of the contract you agree and sign when you financed the car. This is to protect the finance company from a loss of the vehicle. Remember the finance company still owns the vehicle until you pay it off. Failure to comply with the insurance requirements of the finance note you signed constitutes a default on your loan subjecting the borrower and the vehicle to whatever remedies are at the finance companies disposal, including repossession. If you act quickly, Are not behind on your car payments, Get your full coverage insurance in place and pay the towing fees, Call the company and be nice with them and assure them that you understand your obligations with apologies for any oversight, Most finance companies will let you take the vehicle back and continue paying your note.
Of course YOU WILL LOOSE YOUR HOUSE IF YOUR BEHIND ON PAYMENTS.
I dont see why not. The dealership gets their money from the company that financed the car. You arent paying tge dealership, you pay the financial institution. Problem is, if you're behind on payments, that will not help you to get another vehicle.
A car repossession happens when a person falls behind on their car payments and the finance company reclaims the car. The goods they are paying for on a recurring basis are not legally theirs until payment has been paid in full. Until this happens, They will not be classed as the 100% rightful owner of the goods until the lien is removed. When the payments as stated in the agreement are not paid accordingly the repossession of the goods can be taken into effect. When this happens, then a lender can take legal action against you for the money owed to them. Some agreements allow you to miss one or two payments which can be added on at the end of the term. Please be aware that, your finance company can take your car back after missing one payment. http://www.carrepossed.com
no more than 2 payments
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.
I think with any auto finance company you must be 90 days to 120 days delinquent on your loan before they start considering repossessing the vehicle. Beware, within that same time period, your car, truck, or etc.. will be repossessed.