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Do you have to pay the finance company if the tow people sell your car?
Wiki User
∙ 14y ago
Yes, the loan from your finance company is a legally binding contract between you and them. You are solely responsible for the fulfillment of that loan.
Wiki User
∙ 14y ago
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Can you sell a car and hold the title for collateral?
Of Course! That's what the bank/finance company does!
When a car is repossessed does the finance company have to sell it for the amount it is worth?
no, they will sue you for the balance owed after the sale
What do you do if the finance company has put repossession on your car due to non-payment and you wrecked your car and you had no insurance coverage?
The finance company will sell the wrecked car and you will be liable for the balance on yourloan less whatever the car sells for which in your case will be almost the total of your outstanding loan.Then they will come after you for the money.
How do you sell a car that is still financed to a provate party?
Legally you can't ! The car belongs to the finance company until it's paid off !
Can you sell the car after it is charge off?
If you have a clear title, then you can sell it. I don't know why a finance company would charge the car off and give you the title, but if through some miracle that did happen, then you could sell it.
Can a finance company repo your car in Texas and then place it on their lot and sell it without notice to the buyer if the finance company also owns the car lot?
Yep. That's the buy here/pay here way of doing business. Make loans to people who can't qualify for a bank loan and when you show them that the bank was right, the car goes back on the lot.
Can a finance company report your car as stolen?
Yes, they can. They can't finance you car if your car is a stolen car. When you put your car from a finance company, make sure that your car isn't stolen and bought it in a big car company.
Is it leagal to sell car finance to a 19 year old in England?
is it legal to sell car finance to a 19 year old with out a guarantor in England
My car is financed but is beyond repair an I need to know if I c an I sell it to a salvage company?
If your car is financed you cannot sell it to a salvage company. Even if the car is beyond repair it does not technically belong to you until you have finished paying for it. Once you pay the finance company off you can sell it to anyone you please. The salvage company won't or shouldn't purchase that vehicle without a clean title.
Can you sell your car after the car has been repossessed?
No. A car is repossessed because you failed to finish paying for it. Since you never fully paid for it, it's not yours. No. You do not own the car once it has been repossessed. To sell the car you would need the title, which is in the hands of the finance company. After a repossession, usually 30 days later the finance company places the car in an auto auction. There it is sold to the highest bidder. In the rare case that the net proceeds from the sale exceed what you owe for the car (plus interest, penalties, repo fee, etc.) the finance company has to send you a check. If you can redeem the car by paying the full past due amount plus interest before they place it in the auction sale, then you can sell the car.
If you are a cosigner for someone to buy a car the car is reposses you are willing to pay the balance oon the car, but the finance company refuses to release the bill of sell and the balance left on the loan. I am willing to pay the balance what do I do ?
You should speak with the manager of the finance company and explain that you are willing to pay the car off and keep your credit in good standing.
How do you find out if the owner still owe a finance company on the car you are buying?
how do you find out if the owner still owe a finance company on the car you are buying?
