answersLogoWhite

0


Best Answer

This is called a voluntary repossession. What happens is the car will be auctioned in the condition that it is in and say you payoff is $12,000.00 and the auction for the car brings $9,000.00, there will be a judgment issued in the amount of $3,000.00. This will also stick with you on your credit.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If you buy a car and it quits while you're on vacation and you call the person to come and repo the car in the state that you are in can you be held liable for paying for the vehicle?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is a private leinholder of a vehicle liable for the actions of the person who has possession of the vehicle?

No.


Who has the right to a vehicle that is stiil being paid for?

The person paying has the right to the vehicle


Can you sue someone if you park in their driveway and someone hits you?

No. The only person who is liable is the person who hit your vehicle.


A vehicle did damage to your fence on your property the insurance company is saying they are not liable because the person driving the vehicle was not supposed to be driving it?

When driving behind another vehicle at night,


If an unlicensed uninsured minor driving a car with the owners permission has a parking lot accident is the owner liable or the minors parent?

The insurance company is not liable for paying damages. The minor was knowingly breaking the law by driving w/o a license. The parent of the child will be held liable for damages. As will the person/owner of the vehicle if they knew the minor was not a legally licensed driver. If you let an un liscensed/uninsured minor driver your vehicle, your asking for it. If you werent the parent of the minor, they could sue you as well for neglect.


If a stolen vehicle hits your car is the owner's insurance company liable?

The thief of the car is responsible, not the owner of the car. How can the owner control his car being stolen? However, if the owner or person in charge of the vehicle left the keys in the ignition, liabilty may attach in some jurisdictions.


Can you hold a person liable if person is excluded on insurance an gets into wreck?

What do you mean hold them liable. If you gave them permission to drive your vehicle and you had excluded them on your policy, the insurance company will not pay any part of the claim. More than likely you, as owner of the vehicle will be the primary target. If the accident involves another car you will be primarily responsible for their damages and injuries as well as the damage to your vehicle. You can try to implicate the driver but it is your vehicle, your insurance and exclusion that you signed, and you gave this person permission to drive your vehicle, knowing what you do about them.


Who would be liable if you were driving a friend's vehicle and got into an accident and they did not have insurance?

The driver's insurance would then be considered "secondary," meaning if the owner of the auto didn't have insurance, then if the person driving the car had insurance, they would be liable.


If warning sign is posted and a person neglects the sign who is held liable?

The person liable is the person who ignored the warning.


If you are a cosigner on a vehicle and the other person gets the vehicle repossessed then files for bancruptcy what happens to the cosigner?

you are still liable for that loan. the lender may decide to not accept the bankruptcy charge and go after you for the money.


Uninsured driver driving insured car is he covered?

If a person is driving a car and he/she is uninsured but the vehicle in which he is driving is registered and insured to another individual, the registered owner is liable for the damages to the other pwesond's vehicle.


Who is liable for hitting a stationary vehicle?

How can the person not moving be at fault? If we hit a pole or a snowbank we are deemed at fault, regardless of the circumstances, because they were not moving. Care and control of your own vehicle comes into play in this situation.