As long as there is a security interest in your car, YES, it can be repoed if the loan is not paid. Just think how many people would buy cars today if your situation happened everyday.
Your name is probably not on the car title in the first place. When you are paying off a car loan, the title is in the name of the lender. Once the final payment has been made, then the lien is removed, a title is issued in your name and you own it outright.Of course, if you put your cleared title car up as collateral and have failed to make good on a debt, then it can be repossessed. State law will give you time to buy the car back and pay penalties. Once your time is up, then the car is sold and the new owner takes possession with his name now on the title.
No. A car is repossessed because you failed to finish paying for it. Since you never fully paid for it, it's not yours. No. You do not own the car once it has been repossessed. To sell the car you would need the title, which is in the hands of the finance company. After a repossession, usually 30 days later the finance company places the car in an auto auction. There it is sold to the highest bidder. In the rare case that the net proceeds from the sale exceed what you owe for the car (plus interest, penalties, repo fee, etc.) the finance company has to send you a check. If you can redeem the car by paying the full past due amount plus interest before they place it in the auction sale, then you can sell the car.
How do you get 1000000 robux for free?
How do you spell water with 3 letters?
How old is Danielle cohn?
What is the worse galactocemia galactocemia type 1 2 or 3?
What is slappy phone number?
How much does does a 100 dollar roblox gift card get you in robhx?
A teacher walks into the Classroom and says If only Yesterday was Tomorrow Today would have been a Saturday Which Day did the Teacher make this Statement?
What is the term for when soggy soil slides down frozen ground?
How did chickenpox get its name?
What is doomscrolling?
How did the Wiffle Ball get its name?
Do schools still teach cursive writing?
Can eggs break inside a chicken?
Why do books come out in hardback first?
What happens when a beehive gets too full?
What is the difference between an optometrist and an ophthalmologist?
WHAT IS THE EXPECTATION ON THE SUBJECT NSTP AND TO THE INSTRUCTOR AND CLASSMATE?
Ano ang kahulugan ng iskolarling pagpapahayag?
Which of the following statements is true about storing classified documents?
What is the benefit of analyzing the market and alternative industries before individual securities?
Is Sabrina Carpenter related to Hayden Panettiere?
What is the substitute of anisado wine?
What happened to Jeff Hewson of QVC fame?
What is a classified data spill or negligent discharge of classified information?
Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.