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If a bank does not hold the title to a vehicle and no bank lien is shown on the title can the bank repossess the car if payments are behind?
Wiki User
∙ 12y ago
This is a rerun. IF someone is making paymnst, there is a security interest somewhere. Dont be fooled by the title and the leinholder part. They have a perfected lien on it. Good try, no candy for you.
Wiki User
∙ 12y ago
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Can a bank repossess a vehicle that they are not on the title as a lien holder?
Yes, but I'm curious as to how they are not shown as the leinholder on that portion of the title. However, if you signed any type of debt instrument showing that vehicles description and VIN, then payments weren't made in accordance with the debt instrument they can, and will reposess said vehicle.
If you have the title to your vehicle can the bank still repossess it?
If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes
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They've already shown the paperwork - to the police, prior to repossessing the vehicle. They're not obligated to show you paperwork - it's not your car. It belongs to the lien holder.
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