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No they are just trying to get extra money off you , that's why a repo company tries to wait till the last second to send a car to the auction. so if there is some chance of you redeeming your car they want you to do it there so they can get storage fee's off you. I cover this topic and more at www.stoptheRepoman.com

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โˆ™ 2015-07-15 19:32:24
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Q: If a car is reposessed and was sent to auction is it legal for the repo company to bill for storage fees for the period the vehicle was in their lot?
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Related Questions

When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?

Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.


In Indiana if a car is reposessed and you only owe a few payments and the vehicle is sold at an auction do you get any of that money back?

lol no


Do you have to pay for a car if it gets repossesed?

Yes, if a leinholder reposessed a vehicle from a person that owes a debt. then that vehicle is taken to an auction and the person it was reposessed from must pay difference. If the amount owed is $12000 and the leinholder sells it at an auction for $8000 the previous owner must pay the $4000 difference and any expenses involved in the process.


If you have to auction a vehicle boat motorcycle from your vehicle storage what is the processdocument requirements in Hawaii?

Chocolate Milk


If your car is reposessed do you have the right to bid for it at auction?

If your vehicle is being sold at a "Public" auction where anyone can go in and bid - then yes you can bid and/or buy your vehicle. Keep in mind that - if for instance - you owe $5000.00 and you buy your car back at auction for $3000.00 - you will still owe the lender the $2000.00 difference. In other words - you are not going to be able to get by on purchasing your vehicle at auction for less than what you owe and then not have to pay the rest to the lender.


Are you required to pay for the car after the car has been reposessed?

You will be required to pay for the remaining loan amount after the vehicle is sold at auction and the expenses are recovered from the auction. In other words, you will probably have to file bankrupcy if you owe very much.


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 towing company auction a vehicle without notice?

No, unless offcource the company owns it.


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


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.


When your vehicle is repossessed where does it go?

Depending on who the lender is and how they dispose of repos, it will go to the repo cos. storage lot and then to the auction.


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

20 days.


What if a Vehicle storage company auctions my vehicle for more than what I owe them?

Your debt is cleared and they will keep the profit


Do you still have to pay for a car if you do a voluntary repossession in the state of Virginia?

Yes.. anywhere. When a vehicle gets repossessed (voluntarily or involuntarily) and it isn't reclaimed, the vehicle gets auctioned... the person who took the loan on the vehicle is still responsible for the difference between what was received for the vehicle at auction and what is owed on the balance of the vehicle (plus repossession, storage, and auction fees).


How long can police keep a hold on a vehicle in impound?

Varies a bit from place to place, but ninety days is common. When the cost of storage exceeds the value of the vehicle, it is common for it to be sold, at auction.


If your car is reposessed are you liable for the rest of the balance?

Yes. What usually happens is the vehicle is reposessed and then re-sold. When it is resold, any difference that there is between what they sell it for and what you owed is still owed by you. There may also be recovery fees attached for them having to retrieve the vehicle.


What license do I need for vehicle auction?

How do I get an auto auction licence? So I can buy cars at an auction.


What are car insurance auctions?

If you wreck your vehicle, the insurance company pays you off and you give them the title for the vehicle. The insurance company then turns around and sends the vehicle to an auction (usually for dealers and wholesalers only) and sell it. Most of the time a salvage company will buy the car for parts and the insurance company can recoup some of their money.


How do you find the location of a repossessed vehicle?

It would depend on what state you are in. In Florida, state law requires the repo person to call the local police department when a car has been reposessed, this is done so that they do not waste their time on a stolen vehicle report if you should call it in as stolen. The local Police might know which company repo'd the vehicle. The repo company then is supposed to contact the owner (usually in writing via snail mail) and give them 45 days in which to redeem the vehicle (normally for whatever amount you are behind plus the repo & storage charges fees) or pick up any belingings that were in the car (with a storage fee of course). By Florida Law, the tag is your property so they have to give that to you with no charge.


How many days can a tow company charge for storage on an abandoned vehicle?

as many days as it is there if the car is there they can charge


Can a tow company sell a vehicle without a pink slip?

In most states, a towing company can sell a vehicle without a pink slip or its title. However, the towing company, in most states, has to first file a lien on the vehicle for the fees of towing and storage. After the term of the lien expires, the towing company can get a title for the vehicle and sell it legally.


Is it still possible to get your vehicle back after the repo has occurred?

In Canada the answer is yes if it is repossessed by a bank (or credit institution). Any car that is re-possessed by a bank or credit company has to be put up for auction. You can always get your vehicle back if you pay whatever arrears you owe the bank as well as the the fees that the bank had to pay to the repo company before it is sent to the auction house. However, you do need to act quickly. I have never heard of anyone getting their vehicle back once it is up for auction (and in Canada the auction companies used by banks are only open to car dealers).


Can a person be sued for storage fees after they transfer their title to the towing company?

If the car was stored for any length of time before the title transfer, the answer is yes. * If the proceeds from the sale of the vehicle (not simply the value of the vehicle) did not cover the storage fees, the storage company could sue for the amount still owed, unless there was a contract where deficiency recovery was waived.


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.


A car was left on your property when a renter moved out what can you do?

You can have it towed at the owner's expense (meaning you can call a towing company and it will come and tow the vehicle. The owner, if he wants the vehicle, then needs to go to the towing company and reclaim the vehicle by paying the towing and storage fees).