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Defaulted auto loan and finance company does not want vehicle back how do you get the title?
Wiki User
∙ 12y ago
If you have defaulted on the loan, you must sell the vehicle, pay off the loan you have, receive a lien release on title from the loan company and sign it ovet to the buyer. This is bad situation as most people will not pay for a vehicle with out receiving the title at the time of purchase.
Wiki User
∙ 12y ago
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Who owns a car when the finance company refuses to pick it up?
As long as the finance company holds the title, they effectively own the vehicle.
Is it illegal for a finance company to use a financed vechicle as collateral?
you cannot use it as collateral because you need to hold title of the vehicle however in this case the finance company has the ownership of the vehicle not you.............
Cosigning for auto loans i am the primary on my sons auto loan he is behind and I have the title but do not know where the car is how can I get it back?
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.
Is the repossession of a vehicle by a finance company illegal?
No, it's 100% legal. That finance company is the lienholder. What that means is that, until you've paid that vehicle off and have acquired the title, the lienholder is the rightful owner of that vehicle, and has every right to reclaim their property when the conditions of the contract are not met by the lessee.
What does a lien on a car title mean?
The lien holder (PERSON OR FINANCE COMPANY THAT HAS AN INVESTMENT INTEREST IN VEHICLE) must be paid off prior to you selling vehicle to another party.
How long does it take to receive the title from a finance?
Contact the finance company for that information.
I need to remove my finance company's name from title. I want my CA paper title to read my name only and not company name?
You need to take the release form and the title to the DMV. They will issue you a new title without the finance company on it. They will NOT do this until / unless you have the signed title and a release from the finance company / legal owner. The process costs only a few dollars.
If you have the title to your vehicle can the bank still repossess it?
If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes
If you refinance a vehicle and the finance company sends you the title not the new company what can they do if you don't send them the title?
You keep the title. It should show a leinholder listed below, under your name. The new lender doesn't actually need to have the title, as the new lender will release the lien after the payments are made in full. You will then be issued anothe title, showing you as being the sole owner of the vehicle. This is what they refer to as a "clear" title.
Can i Buy a car with no papers?
You can get a bill of sale, which only entitles you to possess it. You can't get it registered without the title. If you're buying a vehicle with "no title" or "lost title", you may have a car with a large lien from a bank or finance company on it.
What are the offerings of Auto Pawn USA?
Auto Pawn USA is a company which will accept your vehicle as security for a loan. Money can be handed over immediately in return for handing over your vehicle and the title to the vehicle. The company also sell used vehicles and can arrange finance options for the purchaser.
Can you finance a car and put your name as well as another on the title?
It depends on the particular finance company, and possibly state law. Some finance companies will only allow people that are on the finance contract to be put on the title, but some will allow other names on the title.
