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Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?
Wiki User
∙ 16y ago
No
Wiki User
∙ 16y ago
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Can a car be repossessed by the dealership?
If the dealer ship financed the vehicle, or represents the financing party, such Ford Finance, or GMAC, then yes they can.
You have finance on a car so can you get another one with the same finance?
You can get another car financed with the same company if they will extend you credit. If you have your loan paid down and a good credit history with them, they will more than likely lend you more money.
What happens if you part out a financed car?
You still owe the finance company the balance owed.
How do you find out where your repossessed car is to reclaim your personal property in Indiana?
Call your finance company.
Does the finance company own your car if the dealership is out of business?
If you financed your car then it is always owned by the finance company, regardless of if the dealership is in business or not, until you finish paying it off.
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
Can you be sued if you let your mobile home be repossessed?
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
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.............
How does voluntary repossession work on an RV in NC?
Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they may ask you to take it to the repossessor. It'll be repossessed, auctioned off, and the amount they get from the auction will be deducted from the amount you owe. The finance company may offer a settlement at that point for an amount less than what you owe on that vehicle - that's up to the finance company.
Can a car be repossessed without you knowing it?
yes because the finance company knows and if you know it may cause problems
Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?
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
Can you buy another car even though is repossessed?
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.
