Good question, do you where the car is? If so, you can go get it yourself. Have you contacted the person and told them to bring it back? If you have, they wont, you can report it stolen in most states. If that doesnt apply, email me.
If the dealer holds the lien and is the one that loaned you the money to purchase the vehicle he can repossess the vehicle if you fail to make your payments on time. Otherwise the selling dealer has no claim on the vehicle whatsoever.
No. Most (99.9%) of the lenders require you to maintain Comp.& collision Ins. on the vehicle the money was loaned for and secured by. If you fail to do this the lender can, and in most cases, will put this Ins. on the vehicle and you will be charged. The charge for Ins. placed on the vehicle by the lender will be quite high, and it is then added to your payment. If you get your own Ins., the lender will cancel the ins. they placed on the vehicle.
It depends on the insurance company. Some insurance companies will cover the vehicle when it is loaned to someone else. Many have restrictions that they will only cover someone of a certain age or older.
If that loan company loaned you money and you used the car as collateral and failed to make payments on time, they can, and will repossess the car.
In the eyes of the law....YOU would still be liable....unless you have evidence that shows the driver of your car operated it in an irresponsible manner....(remember it has to be, "Beyond a proponderance of a doubt.") otherwise, YOU allowed someone to drive a vehicle belonging to YOU, and YOU loaned that vehicle to another person knowing their was no insurance on said vehicle.....see where this is going?? I was a Police Officer in the United States Air Force for a few years..... Hope this helps even though I know it is not what you were hoping to hear... Randy G.
Yes. A license cannot be 'loaned' to someone else.
You need to sue them in court and win.
The ticket is attached to the car, and the owner of the car. We loaned someone a vehicle of ours years ago, and she racked up many parking tickets at a college. Guess who was responsible for the tickets, the owner is. Unless the ticket is handed to you with your name on it, the owner is responsible.
It means the bank, or whoever loaned you the money for the car, will send people out to take it back.
To be seconded means to be loaned from one organization to another or from one part of a business to another
Whether a car is drivable by the owner or anyone else is typically irrelevant to the company that loaned the owner the money to purchase the car. Once payments stop coming in, the company will often make one or two attempts to contact the owner, then repossess the vehicle under the terms of the security agreement.
You cannot just return a vehicle you bought. It is yours or the lender's who loaned you the money to buy it. There is no cooling off period on the purchase of a vehicle.
The word loaned is one syllable.
Mabey tell the person that another one of your friends would like to borrow the item you lent them,weather it is the truth or not. Avoiding confrontations at all costs is best. Especially if it is a neighbor.
You insure a vehicle. The buyer. The only thing the cosigner is responsible for is paying the bank back the money it loaned if the buyer doesn't. The principal driver of the vehicle who should also be the buyer.
Your only recourse is to sue them in small claims court. You will need some proof of the loan.
If the repo-man is looking for your vehicle, you do not own the vehicle yet. If you take the vehicle in for trade-in, they will have to contact the person who owns the vehicle to get permission to trade it (meaning whoever loaned you the money). Whoever they call is bound to mention that they are in the process of repossessing your vehicle. In alot of cases you need ownership of the vehicle and only a title can prove that to trade in a car.
Sell the car!! Just because someone is moving out of the country does not remove their responsibility of paying the car loan. You agreed, in writing, to pay back all monies loaned to you to purchase the vehicle. You must pay the loan one way or the other.
No. Liability insurance follows the vehicle so the person who owns the vehicle you are borrowing needs to make sure that they have insurance and also needs to add you as a driver on his or her policy. You also need to make sure that this is done because if you drive the vehicle and get stopped you will get the ticket for driving without insurance. If you have an accident and are not added as a driver his or her insurance company may deny the coverage for material misrepresentation and guess who will be sued by the person you hit? Both of you will be sued and both will be responsible. Insurance companies to do not like vehicles to be loaned to unknown drivers.
I think the phrase is neither a borrower nor a lender be.THE REAL ANSWER IS AN BORROWER..... MS.MARI OVER N OUT