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Yes and No... Once the vehicle is repossed you are afforded an opportunity to pay what you owe and retrieve your car... If you dont meet the requirements to satisfy the lien holder, the vehicle will go to auction. After the auction whatever is owed on the remaining balance is is the responsibility of the loan holder & or co-signer.
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∙ 16y ago
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Five years later do you have to pay back the loan on a car repo?
yes this goes on your history report
Can you go to jail if you don't pay for your car loan?
maybe, but first there gonna just repo the car
What is the laws on repo's on title loans?
Almost without exception, once you car has been repo'd the title loan company has to hold the car for a set period of time, allowing you to pay the loan back. If you still have not paid (usually 30 days), the car is sold at auction.
What will happen if you don't pay back a car title loan from titlemax?
They will at last resort come and repo your vehicle but if you can't afford to pay it, you can always sell it to some one and take the money and pay it off and keep the rest.
Can a car dealer repo the car if the bank backs out of the loan even if you can make the payments easily and the bankruptcy has been discharged and it's a brand new loan and the title is in your name?
What you need to do is get a new loan from a different bank and work it out with the car dealership. If no bank will fund you, then you have no choice but to turn over the car - since there isn't a bank to pay them for the car, they can take it back.
Five years later do you have to pay back the loan on a car repo?
yes this goes on your history report
If you cosigned on a car loan and the car got repoed can you get the car back if you pay the loan off?
Yes, You are still considered a signer of the note. You will have to pay repo costs and any other charges that may have occurred, but you have every right to get vehicle back. talk to your bank where the loan was processed and they should help.
Can you go to jail if you don't pay for your car loan?
maybe, but first there gonna just repo the car
What happen if have car loan with a bank an you no longer need that car because the monthly payment is high can you take you back an get less one an will you continue with the same bank?
No, you are obligated to pay the loan you agreed to. If you give back the car (a voluntary repo) it will seriously affect your credit.
If a 'friend' drives your car to a repo man without your permission to collect the finders fee how do you get your car back?
To get it back, you pay the amount you are behind or the payoff on the loan, whichever the LENDER wants. AND storage fees.
How hard would it be for a person to get a car back after a repossession?
1st repo?? Pay the arrears and repo fees, have ins. coverage 2nd repo??? Most likely have to payoff the loan unless the lender is in a really good mood. Read your contract
Can you get your car back after repoed on chapter 13 in Texas?
Generally, the answer is yes. If you contact the finance company, pay the outstanding payments and cover the repo and storage fees, they will be more than happy to let you continue paying your loan. Finance companies would rather you pay your loan as agreed than have to repo your car, auction it, and come after you for the difference on the note.
What can you do to stop car repo overseas?
There are a number of things that you can do to stop a car repo oversees. One of the best options is to ensure that you pay up the entire car loan and any other relevant charges.
Can the repo people keep belongings inside the car?
Yes. once they repo the car the only was to get items back is to pay off what you owe
How do you get your car back from a repo when you are only 3 days late?
You pay the LENDER what you are behind and the repo fee and go get it.
You can't pay for the car but the company won't come get it?
The bank that you have the loan with hires repo men to repossess the vehicle
If the loan company says you have to give the car to repo and you can buy it back within 15 days do you buy it for what is owed or will they make you pay blue book?
Get the loan company to put the price in WRITING for you BEFORE you take it back. If it is not a good price, go find another car. Tell the loan company to take a hike.
