Make the idea known to the lender BEFORE you proceed. get it claer what is to happen.
098765445436376547274574 After the vehicle is repossessed and the lien holder (lender) has physical possession of the vehicle (after following state law requirements) they would simply request, and pay for a new title at a cost of a few dollars, and upon proper proof of a proper repossession.
Not without permission of the lender. A vehicle cannot be sold without a clear title of ownership. The lender is named on the title of a vehicle as the "lienholder" until the vehicle is paid for or otherwise released by the lienholder.
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.
If you have a clear title, you car can't be repossessed. Either the title isn't clear or the leinholder believes monies are still owed on the car. If the title is clear, show it to the company authorizing the repossession. If you truly had clear title and there were no leins or other encumberances and a judge didn't declare that the car was to be sold to satisfy OTHER debts, you can sue for damages. If you didn't owe money to the people who had the car repossessed, you should be able to sue them for LOTSA BUCKS, and you definitely should.
The vehicle can be repossessed.
Report it stolen.
YES! Including any interest.
A clear title is a title that has no financial obligation against it; therefore a title held by the bank is not a cleared title.
a lien can be placed on a title without you giving them the title. call your states DMV and ask if you car has a lien on it. I think you will be surprised. Good Luck
DEPENDING ON WHAT KIND OF TITLE THE VEHICLE HAS IF IT HAS A CLEAR TITLE THEN NO IF IT HAS A SALVAGE TITLE THEN YES
Once a vehicle has an Ohio Salvage title assigned, the history remains with that VIN until the vehicle is scrapped. The Registrar in your county will issue a Repaired Salvage , or "branded" Title that you can get your license plates with. You cannot obtain a Clear title for this car.
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.
what does tax title and license cost on used car in Texas
i believe a clear title is where no one has a lien on it.like if you get a loan from the bank to buy a new vehicle they own the title until you pay it off then it's yours free and clear.
Once a vehicle is considered salvaged, you cant get it clear for any reason, even after its repaired.
Yes. The title you received when you purchased the vehicle should show the lien holder. Even when you buy a vehicle on credit, you will receive a title. It is a lien title. You will not receive the full or clear title until the vehicle loan is paid off.
No, there is an exemption under Ohio law that permits finace companies to dispose of repossessed vehicle without a dealers license. Sale and title work is the same as a casual sale between individuals. No, there is an exemption under Ohio law that permits finace companies to dispose of repossessed vehicle without a dealers license. Sale and title work is the same as a casual sale between individuals.
Well, if the title lists no lienholders, it cannot be repossessed. If it lists one, it would be best to surrender it or don't keep anything in it of value. Yes. Even if the lien is not recorded on the title, it hass probably still been filed with the state.