A lien means that money is owed on your vehicle. If there is no more money owed, then there is no longer a lien, and the vehicle cannot be repossessed.
if you owe them money they generally will not release your vehicle to you in the first place
no that's illegal and you shouldn't have bought it if you didn't have the money crackface.
No, they cannot take your vehicle without a signed document.
They sell the vehicle for what they can, then charge the remainder to you. They usually sell that debt to a collection agency, and the agency starts calling you for that money.
Things may differ state to state, but in MI the lien holder basically owns the vehicle. I have the title to my truck, but it's got a big stamp on it from the credit union. The right to repossess the vehicle is in the paperwork that was signed at the closing of the loan, which also lists the vehicle as collateral for the money that was borrowed. If you can't pay the money back they have the right to take the vehicle because it's worth roughly the same amount.
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
If the dealer holds the lien and is the one that loaned you the money to purchase the vehicle he can repossess the vehicle if you fail to make your payments on time. Otherwise the selling dealer has no claim on the vehicle whatsoever.
You owed more money than the car was worth and they wish to collect the balance.
Your driver's license is an instrument issued to you individually by your state government. Your bank has no bearing in its status. What your bank has is a lien to your vehicle which essentially means that upon your failure to pay, they have the right to repossess the vehicle and sell it to recover the money that they are owed. So while your registration won't be suspended, your bank may send a tow truck to repossess your vehicle.
The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed.
From what you describe it has no legal grounds on which to repossess your vehicle unless you missed some provision in the contract that has been breached. You may need to obtain a release of the lien from the lien holder to clear the title. You should try to contact the consumer division of your state attorney general for more information. If possible, you should get some advice from an attorney and act as soon as possible.
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.