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How can I sell a vehicle before I have paid off the finance company?
Wiki User
∙ 15y ago
buy selling it for more than you owe on it .or pay the finance company the difference if sold for lees than the balance owed.
Wiki User
∙ 15y ago
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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.
How long can they hold your vehicle after you pay the finance company the required amount to reinstate the vehicle?
If they have called in the note and you have not paid in full, they have the option of selling it or holding it for you. Once you've paid the full note and they mark it "paid in full" they are obligated to get both the vehicle and the title to you immediately.
If you are current on your payments can the car dealership who sold you the car repo it or is the bank that is financing the vehicle the only one who can do that?
The bank/finance company. The dealer has already been paid for the vehicle
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.
Can you finance a car that is paid for?
If it's paid for, there's no need to finance it. Once it is paid for, it is possible to take a loan out against the vehicle as collateral, but then it's no longer paid for at that point.
Can a car get reposessed if the previous owner owes finance on it?
Yes. Prior liens must be paid off before you take title to the vehicle.
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.
Can a car dealer shut your car off if you miss a payment?
That's not going to happen. Unless the dealership is doing the financing in-house, they're already paid for the vehicle, via the loan you took out from the finance company to get the vehicle. It's the finance company you'd answer to re: the payment, not the dealership. Thus far, I've never heard of any such thing happening - miss a certain number of payments, and the finance company sends repossession agents to collect the vehicle. However, it's not beyond the realm of possibility - vehicles with systems such as OnStar can be shut off remotely, and, although I have yet to hear of it happening, it is possible that a finance company could request OnStar disable the vehicle.
Who is the legal owner of a vehicle?
The one with the name on the title, if it is free and clear. Otherwise, finance companies that finance vehicles are the official owners until the loan on the vehicle is paid off.
Can you get your finance company to repossess a vehicle from a second party?
If the lein holder didn't authorize a repossession can the person of ownership take charge and collect the vehicle, even if it's paid on time but both parties on reistration are no longer in agreement?
Can a car finance company charge interest once the principal is paid?
yes it can
Ive paid over a third of my car how long before finance company to take me to court?
you need to pay the rest |ASAP or they will reposess and you will still be on the hook
