Cars & Vehicles
Repossession
Personal Finance
Loans
Money Management

In California can a vehicle be repossessed if you only have 2 to 3 payments left on the loan?

345

Top Answer
User Avatar
Wiki User
Answered
2008-08-04 18:25:17
2008-08-04 18:25:17

Until you pay it off, yes. It is not yours until it is paid in full and the Lein Holder's name is off the title.

001
๐Ÿ˜‚
0
๐ŸŽƒ
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Related Questions


yep....pay it off so they cant


If you are more than 1 payment behind rest assure it will be repossessed. The way to prevent this is to catch up on your payments ASAP. Default on the loan agreement you signed, and they will repossess the vehicle. They will then sell the vehicle and you will pay the difference in what the vehicle sells for and the balance left on the loan. They will sue you for the balance, and you will pay. Your credit will then be ruined for 7 years. Avoid this if there is any way possible. Talk to the lender and see if something can be worked out. You do not want the car repossessed.


If your vehicle has been repossesed then your best option is to no longer make payments until this vehicle has been resold; which takes place through an auction. Once vehicle is sold you will receive a final bill for the remaining amount that was left over. The final stage of this process is to settle for 30% or less on the remaining balance.


In New Jersey, it is the responsibility of the person who registered the vehicle. When the vehicle is repossessed, the person from whom it was taken will be contacted to allow them to pick up their belongings. At this time, they will be given the plates as well as any other personal items left in the vehicle. They can then be returned to the agency.


The location of the vehicle is not critical. As long as it can be seen and does not require breaking and entering, the vehicle can be repossessed.


You can always make an offer, but its up to the lender whether its accepted.


can i obtain a abandon vehicle in California left over a year


There is no way that you will be able to get that care back. Once a vehicle has been repossessed the company holding the car is in the process of auctioning that vehicle. You will have a balance once this vehicle has been auctioned out. You should receive a statement in the mail withing 60-120 days stating what you owe. Sometimes if you are lucky you will end up owing anywhere from 50-75% of the sales price of that vehicle. If you are not that lucky, and you are left with a full balance that you owe, your best bet is to negotiate with the lender or collection agency that has that account.


mine was charged, i left the junker at the car dealership and when i finally got sick of paying for a car i hadn't touched for months, they repossessed something they had possession of.


As long as you owe them money they can take it.


You will have to pay any balance due after the car is sold and then it ruins your credit.


You can not have a vertical license plate in California. California Vehicle Code says they must be mounted so that the characters are upright and display from left to right.


Depends on the state. Some states require that the plate be left with the debtor. Others say the plate stays with the vehicle. Some states seize the plates if the insurance was lapsed on the vehicle. Best to call the state atty gen. where you are and ask.


Once the vehicle is auctioned off and sold there is usually a remaining balance left to pay. You will start receiving collection notices about the remaining balance. This is when you will want to prepare yourself to negotiate a settlement.


If you buy a car that you cannot afford down the road, and it is repossessed, then ALL the remaining costs are paid with the repossession of the car. NO further car payments need be made for the car itself. The interest on your loan however is a different matter. If the difference from the value of the vehicle does not over lap the interest on your loan, then yes, you will have to pay more money. If your loan was through the dealership itself, then you can fight any recurring bills in court after the vehicle has left your possession.


If you take your personal property before the vehicle is picked up, you can keep it. If you voluntarily turn in the vehicle you get to keep anything you want. If they have to hunt it down and tow it off, you're just out of luck. They'll throw away anything that was in it and if someone picks it up, it's theirs.This is not true.. The creditor must account for all personal belongings found in a repossessed car.. The below answer came from the following site... http://www.fair-debt-collection.com/searches/repossession.html"What happens to personal property left in my car?Personal property does not apply to improvements made to the car, such as a CD Player, stereo or luggage rack. It only applies to items not connected to the vehicle. The creditor or whoever repossessed the car CANNOT keep or sell any personal property found inside. If the creditor or whoever repossessed the car cannot account for personal property left in the vehicle, you may be entitled to compensation and should consult with an attorney"


Yes. What happens is that they auction the vehicle. They can auction a vehicle 10 days after they repossess it, not before. They take that money, apply it to the loan. Whatever balance is left is what you are responsible for. One thing you can question, is what the vehicle is auctioned for. They have to make every reasonable effort to sell it for book, they just can't sell it for $10 if it is a $10K vehicle, if you know what I mean. There are guidelines that they have to adhere to.


Making Payments After Returning a CarNo, you do not have to make payments HOWEVER.....once they sell the car you still owe the left over balance. Just because you don't have the car anymore DOSEN'T mean you didn't borrow the money #2No you do not have to make payments after returning a car as long as you are ok with having a repossesion on your credit history and as long as your ok with the finance company filing a judgment against you for the amount left owed after the sale of the returned vehicle.


Left bank is on the drivers side on a RWD vehicle. On a FWD vehicle stand behind the transmission and the left bank is on your left.




A repossessed vehicle is sold at auction to repay the lending institution. After the vehicle is sold, any money will be used first to pay the auction company, the repo agency and then all remaining funds will be applied toward the amount due on the loan. If anything is left over, you should get it. If there is a deficit, the bank will contact you to make arrangements for collection of the amount owed. You typically don't get any money "back", but usually end up owing the bank.


Yes, you contracted to borrow money. That money was loaned to you, it is gone. Now you have the principle and the interest. The vehicle that was repossessed only secured the loan. The lender did not want your car, but your failure to pay as promised left them no choice but to secure some sort of payment. Now you have what remains, plus costs and continuing interest. If you fail to pay now, you may have no choice in how the lender collects the full amount.


The left and right side of the vehicle is determined as if you are sitting in it facing forward. Left is the driver side and right is the passenger side.


* While driving, the vehicle pulls heavily to the left or right



Copyright ยฉ 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.