Best Answer

If you 'returned" it as in "I dont want this car anymore and I am NOT gonna give you a chance to repair it", then it was a vol repo. If it was towed in for repair and you never came back to get it from the repair shop, then it was a repo. If you havent paid any payments on the contract you signed, it was a 1st payment DEFAULT and a repo.Unless you got the lender to agree to a clause in the contract that said"if the car breaks down, I DONT have to pay", then it is a repo. Did I miss anything?

User Avatar

Wiki User

โˆ™ 2015-07-16 18:11:07
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: Is it a voluntary repossession if the vehicle broke down and was towed back to the dealer one day after it was purchased?
Write your answer...

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.

Can you return a new car to the dealer because you cannot afford it?

No, you cannot just return it to the dealer. The dealer has nothing to do with this unless the dealer is also the lender. You must return it to the entity who loaned you the money to buy the car in the first place. It is their car until you pay for it. This is called a voluntary repossession. You will be required to pay the deficiency. That is the difference in what you owe on the vehicle and what they sell it for at auction or private sale. Your credit will also be ruined for 7 years. You will save repossession fees by turning it in voluntarily.

Can dealer sell vehicle you already purchased?

Not unless you sold it back to them.

Where can one purchase a 2002 Toyota Tundra?

The 2002 Toyota Tundra can be purchased at any local reliable motor vehicle dealer, or a local Toyota vehicle dealer. It can be also purchased via private sellers.

Can a dealer suspend your license for a repossession?


Why do car dealerships offer voluntary repos if you still have to pay?

The "voluntary repossession" allows the purchaser who has defaulted the loan to avoid having to pay a repossession fee of a few to several hundred dollars. That is the ONLY advantage to the purchaser.The dealership has the vehicle back in it's possession and can unload it at an auction without having to pay a repossession fee to a repossession agent (because the purchaser "voluntarily" surrendered the vehicle).Once a car is repossessed, voluntary or not, it is (at least in most states) sent to an auction to be sold and the proceeds applied to the outstanding debt of the borrower.Usually, there are specialized auction houses dealing solely, or nearly solely with repossessed vehicles and the vehicles NEVER (that I'm aware of) bring anywhere close to the amount of the loan.This is true because first, it is (1) a dealer only wholesale auction, (2) the vehicle is a "repo" and (3) the "retail" price previously paid by the purchaser/borrower is an amount greatly inflated over and above the actual "wholesale value" of the vehicle.

Can the bank take your car at the dealer if it is in the process of repossession?

The bank can repossess their (not 'your' vehicle until you possess the pink slip) vehicle at any point where it's accessible to them, including places of business.

What can be done about being overcharged 1000 for a used vehicle from a dealer in PA This vehicle was having several problems unfixed by dealer by his mechanic.?

You can speak with an attorney regarding possibly suing a used car dealer in PA. If you were overcharged and the vehicle is having issues, you might be out of luck if you purchased it 'as is.'

Where is the block heater on the 2003 Durango?

Not all vehicles come from the factory with an engine block heater, chances are yours did not. Call your dealer where you purchased your vehicle. Or call your local dodge dealer. If your vehicle has one, (most likely does not) your dealer will tell you where it is.

What is Ohio law for returning a newly purchased vehicle?

The Ohio law does not provide for returning a newly purchased vehicle. The individual dealer may allow you to in order to promote goodwill. They are not required to allow you to return it, however.

Can you return a newly purchased vehicle back to the dealer within twenty four hours in the state of Louisiana?

No, you cannot.

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.

Can a car dealer sue you without having sent a certified letter stating the amount due for a balance after you have returned the broken down vehicle to the dealer and stopped payments?

It depends on the repossession laws of the state where the car was purchased. In some states the lender is required to send the borrower a notice of "cure and remand" before repossession can occur but not before a lawsuit can be initiated. Generally a lender will send such a letter in the hopes of avoiding litigation which is time consuming and often expensive for everyone involved.

Can the dealer repossession your car off private property?


What is in the Chevrolet truck warranty?

You should have received a copy of the warranty when you purchased your vehicle. However, if you did not, you should contact the dealer that you bought the vehicle from to obtain a copy of the warranty. The warranties are not available on Chevrolet's website which also says to contact your dealer.

What is the SOL on vehicle loan purchased at a buy-here-pay-dealer in Indiana?

10 years

Can you return a used car purchased from a dealer in pa?

No, the buyers remorse law does not apply to the purchase of a new or used vehicle.

If the car you just financed is hit by an uninsured car does the dealer have to give you a loaner?

Not unless you purchased a warranty or something that said they had to. Just because you purchased a vehicle from someone/dealer doesn't make them responsible for your rental while yours is under repair.

What is a Nissan voluntary service campaign?

DEALER RESPONSIBILITYIt is a dealer responsibility to check (with SERVICE-COMM) each vehicle falling within therange of this service campaign which for any reason enters the service department. Thisincludes vehicles purchased from your dealership, other Nissan dealerships, privateparties, or vehicles presented by transient (tourist) owners and vehicles in dealer inventory.A campaign status report (sent under separate cover) will assist you in the identification ofthose vehicles involved in this service campaign. Each dealership service department isencouraged to contact these vehicle owners to have the required inspections and repairscompleted on their vehicle.ALL DEALERSHIP WILL BILL NISSAN USA DIRECTLY FOR THE REPAIRS OR ADJUSTMENTS FOR VOLUNTARY SERVICE/RECALL CAMPAIGNS!

If a parent cosigns on a car loan with hisher child and the child does not make payments can the parent return the car to the dealer?

Dont be silly you ninny this isn't an item from walmart your the cosigner and if you take it back to the dealer which you could do it will be considered a voluntary repossession and will go on your credit as well as your child's for the next 7 years do the smart thing and sell it or take over the payments.AnswerSo I'm guessing that's one way to say YES if you are on the loan you can return the vehicle to the bank. It will be marked as a voluntary and you run a great risk of still owing a lump sum after the vehicle is sold at auction so returning it does not constitute end of financial liability. AnswerCorrect. Returning the car to the dealer DOES NOT end financial responsibility or eliminate credit score DROPS.

Where can I purchase a commerical motor vehicle?

A commercial motor vehicle can be purchased from any dealer that sells vehicles designed for the purpose of transporting people or goods. Commercial vehicles can range from huge trucks to smaller trucks and vans that can be purchased from any local car lot.

Can a lien on car you perchused full in cash but dealer has a lien on the car still be reposessed?

If you purchased the car in full with cash then there shouldn't be a lien. Look at your paperwork to make sure it says "Paid In Full" if it does the dealer has no right to repossess a paid in full vehicle. A lien is where you are making payments for a vehicle and the vehicle is being used a collateral until the vehicle is paid off.

Where can a Cadillac Deville be purchased?

A Cadillac Deville can be purchased at a Cadillac dealer.

Whats is the MSRP?

what is the MSRP on this vehicle what dealer has the vehicle

Is the warranty on a car the same when shopping at a cheap car supermarket as a dealership?

The warranty on a new automobile is from the manufacturer, not the dealer. It does not matter where the car is purchased. A used vehicle, on the other hand, can have very different warranties depending on the dealer.