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GOOD question. Read the contract. Were you in default of it?? Why didnt you TAKE the car back? Why did they have to come get it?

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โˆ™ 2015-07-16 18:10:58
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Q: Is it a repossession when the bank couldn't finance you and the dealer had to take car back?
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Related questions

Do you call the finance company or just take the car to the dealer if you want to do a voluntary repossession and do you need to inform the finance company you're taking it back or will the dealer?

call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.


Dealership can not finance car do we have to give it back?

find out another dealer who can finance your car.


Do you have to bring your car back to the dealer for repossession or do they pick it up?

You DO NOT have to take it back, but it will save you some money if you do. They will come pick it up if you tell them to.


Can you get your car back after a repossession if you file chapter 13 bankruptcy?

In GA Can you get your car back after a repossession if you file chapter 13 bankruptcy


Can you drop off a motorcycle at the dealer if the creditor wont take it back?

If the creditor will not take it back in lieu of the money owed then you need to sale the bike and pay them their money. Unless the dealer is willing to buy the motorcycle you will still owe the money. Not every creditor will do a voluntary repossession.


If you sign a finance agreement and now the bank wont finance you do you have to give the car back?

You have to look at the papers that you sign with the car dealer. Typically they make you sign an agreement to bring the car back in the event that they can not get you financed. If they did not have you sign something, then they will probably hold the note themselves and then you have to pay the car dealer. But the short answer is yes, you can not keep the car if you can not pay for it.


Can you terminate your finance half way thro send the car back and pay nothing more?

Sending a car back and ceasing paying is the same as a repossession. It will have an extremely negative impact on the credit score and the ability to borrow money in the future.


Do you loose your liciense if you hide a car from repossession?

There is a possibility that you licenses could be suspended. If you are hiding the car from repossession, you technically are stealing the car. The finance company can contact DMV and have the registration revoked and report it as stolen. Give the car back. Nothing good ever came out of hiding one from the repo man. They WILL get it eventually.


How do you get my car back after repossession in Louisiana?

Make your car payments.


Does a repossession stay on your credit report if you get the car back?

YES


How do you get a car back from repossession in the state of TN?

Pay up.


What is the concept of repossession about?

Is is common knowledge that the concept of repossession is the taking back of property by a lender or seller from the borrower or buyer, usually due to default.

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