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Repossession
Contract Law

How can you repossess a car in Missouri you sold to a friend with only an oral contract that he would make monthly payments?


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Wiki User
2015-07-15 18:35:32
2015-07-15 18:35:32

If you did not give him the title, all you need to do is go get the car (hope you kept the spare key). If you did sign the title over to him with no documented agreement concerning the payments, you have probably given your (ex)friend an expensive present.

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Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?

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In North Carolina, a lender can repossess a car when just 1 payment is missing. They can also repossess it if you let the insurance lapse and are current on your monthly payments.

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The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.


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