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nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it, sooo they will be tougher the next time around.

I got a different loan to pay off the first loan, the interest was a little higher, but I figured I would still owe the first lender the difference of what the car was sold at at action. (Car was worth 16k, they would prob auction for 10-12k.) I would be held liable for the differnce. I would still be out a few thousand dollars, but at least this way I would have a car.

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โˆ™ 2015-07-15 18:49:13
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Q: How do you pay back the loan company after your car has been repossessed?
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Related Questions

Why has your vehicle been repossessed if you are up to date on all title loan payments?

Call the loan company and ask them. If you are up to date on your loan you have a case against them.

How can you find out where your repossed vehicle is being auctioned at Too try an buy it back?

Bank or loan company who repossessed it.

Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?

No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.

If you have a car repossessed can the loan company keep you from receiving a tax refund?


Can a cosigner have a car repossessed if the loan has been in arrears?


If your car was repossessed and you paid the loan off do you get the title?

If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.

Do you have to pay the whole vehicle off if it is repossessed?

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.

Can the bank come back to you for the difference of the loan after the car has been repossessed and auctioned?

yes they can...but it also depends on state laws too

Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?

YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.

In New York State does a car loan company have the right after a car has been repossessed to freeze and over draft your bank account?

You need to read your loan agreement very carefully you may have given them that right.

You had an auto loan with Chrysler Financial and they sold your car to another company because you were behind on payments Now your car has been repossessed Can you get your car back?


Can a car be repossessed in California without a lien being placed on the title?

IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.

Can you keep a car that your name is not on loan but was given to you by the deceased?

You need to have the title transferred to your own name and notify the loan company of the change in ownership. Then you will need to pay the balance of the loan or renegotiate the loan with the bank. If you don't pay the loan the car will be repossessed.

How do you get your car back from repo and how long do you have to get it back?

If a vehicle has been legally repossessed, then the bank has absolutely no obligation to give it back to you. Ever. But many banks will work with you in rder to get the loan repaid, but from a legal standpoint the bank has ownership at that point.

Can your car be repossessed on a title loan after gone into collections?

Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.

Who pays the loan if a car is repossessed?

The one who BORROWED the money and/or the on who COSIGNED the loan.

If your car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?

The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.

Your car was repossessed with your belongings in it Can you consider them stolen and call the police?

You can. They probably won't do anything. Call the loan company to see where you can get your things or they will mail them to you.

Can you be sued by a finance company once you have defaulted on a car loan?

Yes, if the vehicle is repossessed and there is a deficit between the sale and the loan balance, (including fees and penalties)and the borrower cannot pay what is owed.

How long does it usually take to hear back whether your student loan went through or not?

It will usually take anywhere from a month to two before you hear back from a loan office. If has been longer than this, you may want to call the loan company.

In Arizona when car is repossessed do you need to pay the whole balance left on the loan or what you owe to get the vehicle back?

Depends on your bank and what the history is with the loan. They have the option to make you pay the entire amount of the loan. They can also allow you to just bring the loan current along with any other fees to get it back.

Can a company legally refuse full past due payment plus repo fees after the car has been repossessed?

Yes, this is because the loan agreement was voided when you were late with one payment.The lender has decided to auction or sell the car even though you can bring the loan current,they can do this.

Can you go to jail after your car has been repossessed and you don't want to pay the loan?

No you can't be sent to prison.You can declare bankruptcy .

If you are the co-signer of a vehicle that was voluntarily repossessed how can you get your good rating back?

PAY THE LOAN OFF. the loan NOT being paid was what damaged your credit so start rebuilding by paying it.

How long does one have to be delinquent on a loan before a car is repossessed?

To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements.