Depending on the context, someone is saying that they intend to sell. If a vehicle has been repossessed, for example, the lender can notify of an intent to sell, to recoup losses on the unpaid part of the loan.
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
only the last one counts
Pay for the car and get it back, or pay the deficiency after it has been sold.
YES,, CALL the lender and find out HOW MUCH it will cost to do so.
The owner of a vehicle that has been repossessed, cannot afford to make their payments, so it makes sense that they cannot afford to perform the required scheduled maintenance on the vehicle. This is not always the case but IMO, I would never buy a repossessed vehicle, unless it had extremely low mileage of say less than 20,000 miles.
Mary, the answer is NO. You will have to pay the balance due after the sale price has been deducted.
As a rule of thumb, you will owe the difference.
Yes, you can. Alot of times they will work with you. They don't want your car, just your money!:)
If it has been repossessed the lender will usually stop all collection activities until the vehicle is disposed of through sale. It is unusual but the lender could decide to keep the vehicle but should they do that than they waive their right to a deficiency.
No. You wanted the custom work; it belongs to you. No one will pay you for customizing your own vehicle.
It might get repossessed.
There are certain strict procedures that an automobile repossessor must follow when he is repossessing your car. The repossessor must notify the police that such vehicle is being repossessed, you did before or after the repossession has occurred. In either case, the police should know right away that the vehicle was repossessed. If this is not the case, then the vehicles like to have been stolen.
Under Texas law, a vehicle may be repossessed even if payment was only late for 10 days. This means that is payment was due on the first day of the month, and payment has not been settled on the tenth, then, vehicle will be repossessed on the eleventh.
Yes, you are allowed to remove your personnel property from any vehicle that has been repossessed. Take proof of ownership to the lot where the vehicle is stored and ask for your property. If they refused call the lender.
A person immediately contact their lawyer to assist on issue.
Same as any other repossession, CALL the LENDER. Work something out.
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No, you no longer have anything to trade (the car is now the property of the repo company not you).
It depends on how many times you've been late on vehicle payments. Most of the time though as long as you are making a payment of some kind on the loan your vehicle will not be repossessed.
To have someone elses egg being put in your uterus after it's been fertilized.
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
If you have not paid your loan, your vehicle is repossessed. If your vehicle is parked illegally, such as in front of a driveway or in a no parking zone, it is impounded. In both cases, a police report should have been turned in to the local police department. With an impounded vehicle you generally have a parking ticket, a towing fee, and a storage fee. All three must be paid before you get your vehicle back. Next time walk an extra block.