You need to review the contract to determine what rights the lender reserved in that contract.
If you are not in breach of contract (ie haven't been late in the past), then the finance company has no right to demand early payment unless the contract states this as a provision. If you *are* in breach, or have been in the past, then the finance company has some leeway -- a bit of "you violated, so we violate right back."
You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.
No you don't owe any back payments to the insurer for coverage you never had. If you only purchased liability then they will not be paying for the damage you described. It is not a good idea to expect your insurer to have psychic powers when it comes to the coverage you need. They were not present when you signed you financing contract. Your Automobile finance contract required you to obtain full coverage. It is your job to do so. Your financier does have the right to repossess your vehicle if you fail to maintain the type of coverage you agreed too in your finance contract. If you are lucky enough to have an insurance company that is willing to retroactively provide you with comprehensive coverage then that insurer does have the right to expect you to pay for that retroactive coverage.
call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.
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.
YES.
If the driver was uninsured or only had liability insurance, they would be liable to still pay the finance company back or face a lawsuit.
no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it
They can keep the money you already paid.
GOOD question. Read the contract. Were you in default of it?? Why didnt you TAKE the car back? Why did they have to come get it?
Yes, it is a civil matter. Who owns the car is a matter of the contract between the purchaser and your finance company. The whole concept of "repossessing" is shaky, as in theory, they should civilly sue the purchaser for breach of contract. However, by taking the car by stealth or bluff, they put the burden on the purchaser to sue them for breach of contract. However, in your case, the unbelievable happened. Your company failed to secure the car after having got it back. It is difficult to feel sympathy, as it was your company's error. You may sue him for it back, which will mean the very civil suit you sought to avoid before. Or you may try again. If you do, try and hide the car next time, or transport it to it's terminal destination at once.
If the car has not been sold you pay the back payments and any fees.BUTThe finance company does not have to allow this.