IF your name was NOT on the contract, you're NOT responsible for it. If it was , you are.
The person who has the car calls the lender and tells them where to pick it up. the lender might say"just drop it off at XYZ dealership"....or they might send someone to your home to get it.
REPOSSESSED - reclaimed from the person who purchased it (base of possess, to have)
Yes, TVs can be repossessed in Texas. The television that is purchased on a rent-to-own plan or that is in the process of payments for ownership can be repossessed if those payments are not made in a timely manner.
Most definitely.
Maybe, if you have the original, but, it is ultimately up to the bank.
YES you can. Just notify the lender where you dropped it off. No need to let it sit at a dealership for 2-3 months doing nothing waiting for the lender to locate it. That will save you a lot of phone calls from the lender also.
Start with some type of vehicle history report, such as Carfax.
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.
The 1985 Econoline Van has an automatic transmission. The transmission can be rebuilt by any licensed transmission shop or purchased new.
Repossessed tractor trailers can be purchased from some tractor trailer dealers. If the rig was previously financed by a bank, the bank repossessing it will try to sell the tractor trailer to a dealer before selling it to the public.
0.36 percent of cars purchased by owners acquiring loans are repossessed in a quarter in the New York. Repossession occurs as a result of failure of stressed borrowers to come to an agreement with their debtors.