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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.

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โˆ™ 2006-03-10 15:16:14
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Q: How long can they hold your vehicle after you pay the finance company the required amount to reinstate the vehicle?
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Related questions

Does a finance company have to auction a repossed car in Florida?

Yes, a finance company or a bank is required to send the vehicle to an auction to dispose of it.


Can a finance company change your registration when trying to repossess your car?

Is it legal to? NoIs it possible to? NoThe finance company does not have possession of the vehicle so can do nothing with the paperwork on that vehicle until the do secure possess of it.


Who owns a car when the finance company refuses to pick it up?

As long as the finance company holds the title, they effectively own the vehicle.


Is it illegal for a finance company to use a financed vechicle as collateral?

you cannot use it as collateral because you need to hold title of the vehicle however in this case the finance company has the ownership of the vehicle not you.............


Uninsured finance vehicle has been stolen Cancelled insurance because car was being repossessed by finance company?

You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.


In pa when a vehicle is repossessed does the finance company have to tell you what their doing with the vehicle?

Usually, they do not have to tell you what they are about to do to your vehicle. But, the procedure is is that they will sell your vehicle in an auction.


Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?

no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it


Can you go to jail for selling a vehicle that has a lean hold by a finance company?

yes


Can a finance company go on your property to retrieve a vehicle for repossession in NJ?

Yes


What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?

While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.


What is surrendering your vehicle mean?

Surrendering a vehicle, in a financial sense, means that it is being repossessed and it is being given back to the finance company. The company will usually send someone to collect the vehicle.


After 15 days can a company reposses your car?

can a finance company reposses your vehicle if you made your payment on the15 day


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.


Can a vehicle be reposessed for no insurance coverage?

Yes, Almost every Auto finance contract requires the buyer to carry Full coverage auto insurance for the term of the finance note. Failure to company with the terms of the finance contract you signed is a default on the part of the buyer and subjects the vehicle to repossession and other remedies at the disposal of the finance company.


Can I still purchase another vehicle if I voluntarily repo my current car?

It may be alittle tough to find a finance company to finance the vehicle but you should be able to with some cash down.


How long does the finance company have to hold the vehicle before they can auction it off?

20 days.


What if the finance company after 8 months never get their vehicle one day the driver gets pulled over by the police will they take the vehicle?

This depends on where you are.If you are in an area where it is illegal to hide the vehicle from the finance company you will get arrested, the vehicle will be impounded and the finance company notified.Added: If you have been concealing the vehicle from the creditor and at the same time not beein making payments, the creditor may well have filed a stolen vehicle report with the police.You have wrongfully deprived the creditor of their property (i.e.: THEY own it - not you). If the vehicle turns up in the police records as stolen they will not only confiscate the vehicle - you could be facing criminal charges as well.


How can I sell a vehicle before I have paid off the finance company?

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.


What do you do with a vehicle when a finance company has refused to repo it?

state of Michigan automobile the has abandon for two yrs


Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?

No


What are examples of voluntary car repo?

If you call the Bank; Finance Company and let them know that you are going to return the vehicle to them. They tell you where you can drop the vehicle off and you deliver it to that place. That is a voluntary repossession. The only other thing would be if the Bank; Finance Company agrees to pick the vehicle up at your residence at no charge.


What is a reputable source for information on a vehicle finance calculator?

A reputable source for information on a Vehicle Finance Calculator is Carmax. Carmax is a reputable Company and they have alot of resources available to help you estimate everything about your cost, from monthly payments to the total cost of a vehicle.


Does a company vehicle has to have signs?

Not required, but most companies want the advertising.


How long after a missed car payment does the finance company repossess the vehicle?

The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance company and get triple what the car is worth. I guarantee you they won't take it. You can also put a mechanics lien on the vehicle to protect your interest in it.


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.