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Auto Loans and Financing
Repossession
Liens

Is it legal for a dealership to repossess a vehicle that was not financed only a bank error without letting you correct the problem?

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Wiki User
2004-04-27 08:45:12
2004-04-27 08:45:12

YES

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Keep making payments on a car you don't have and learn your lesson about not letting your insurance lapse.

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They started letting women vote in 1857! I looked it up in the state book! This is absoulutely correct!

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Well first off, it's not like he could get a refund. If he is simply going to let it get repossessed, he can have someone else drop it off & he can send the lienholder a letter stating he is voluntarily letting them repossess the vehicle, along with location of where it was left. Voluntary repossessions avoid additional charges, towing, repossession fees,etc.

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It would be in your best interest to try and negotiate something with your creditor. What will probably happen if they repossess your vehicle is that they will auction it off to the best bidder in an attempt to recover what you owe on the car. If the best bid does not cover the debt you owe, they will come after you for the balance. So you will be stuck paying the balance on a car that you don't even have anymore.


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