Brand, You COULDNT trade so you bought 2 more vehicles?? Is that correct?? IF so, you BEST move would be to sell the upside down car and put whatever you have to with what you get from selling to PAYOFF the loan. Sounds dumb huh? That is the CHEAPEST way out and keep good credit. Anything else will be MORE money AND collections. Collections usually include garnishment of your wages. If you know getting upside down was not smart, then you know this is the best way out. And please dont let a "friend" take up the notes. That only works in 1 out of 25000 cases. You'll probably be back in 2 months crying that your 'friend" didnt make the payments and "HOW do I get my car back".Please make the right decision this time. Good Luck
In most cases, YES
Until the Statute of Limitations tolls on the judgement.
I wish I knew
It will be auctioned off and the bank will want to collect the difference of what it sold for and what your loan was.
if i get my car repossessed, can they put a llien on the house?
Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.
No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.
No, but your car can be repossessed if you don't make the payments.
if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed
The debt is NOT forgiven. See link below. ArizonaRevisedStatutes
Likely you will have to pay the loan off after the lender sells the car. lenders have some legal options that will collect from you.
When a car has been repossessed the person paying the insurance should cancel it.
requirements vary by state. call a local attorney for guidance.
Same thing that happens to the buyer. Lender persues their legal options to collect the balance due.
im sorry you can not
You loose your car...
No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
I have a welding machine on the truck they repossessed can they keep that?
Most likely not depending on what financial situation you're in.
Yes, a car can be repossessed even if another car is in front of it. The person in charge of repossession the vehicle can call the police to help them get the car.
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.