They do not have to notify you. You have no legal rights regarding car.
No, there is an exemption under Ohio law that permits finace companies to dispose of repossessed vehicle without a dealers license. Sale and title work is the same as a casual sale between individuals. No, there is an exemption under Ohio law that permits finace companies to dispose of repossessed vehicle without a dealers license. Sale and title work is the same as a casual sale between individuals.
One could search for repossessed cars for sale online at the websites provided by the companies Repo Direct, Auto Bid Master, Repos 4 Sale, Cars for Sale, Bank Repossessed cars and Repossessed Cars Sale.
When a vehicle is repossessed, it will eventually be sold at auction. Occassionally, the amount received from the sale is greater than the balance owed. On these occassions, the excess is sent to the debtor.
Mary, the answer is NO. You will have to pay the balance due after the sale price has been deducted.
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.
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.
The difference between the sale price & loan balance is what they will bill you for.
This is best answered by referring to the language of your private sales contract.
There are many websites that list repossessed houses for sale. HouseRepos and BankForclosureSales are two examples. Another option is to contact a local Realtor who can provide you a list of local repossessed homes free of charge.
yes how much