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Is it legal for the finance company to refuse to allow payments or payoff on a repossessed vehicle in the state of Ohio?
Wiki User
∙ 19y ago
Payments??YES. PAYOFF???NO My husband lost his job and had to take a different job making less money so our payments were late and the several were not made at all. At the time of the repossession I was in the process of trying to get a personal loan from a family member to just pay off what we owed. The vehicle was reposessed before I could get the money. The day after they took it, I called and asked what it was going to take to get my vehicle back. The woman was extremely nasty to me and informed me that with our payment history she was not going to give it back to me. She did not offer me a pay off amount or even let me get a word in. She had me in tears before she hung up on me. I could not afford an attorney so we just did nothing. The van has now been sold at auction. It sold for $1200 at auction. Now we are getting letters demanding the amount we owed plus $200 more even though they sold the van for $1200. I know they can legally expect us to pay for the amount of the outstanding debt, but I don't understand how they can refuse to let me pay before they auction it, then come up with a higher amount we owe than what was left on the loan AFTER they sell it. We couldn't afford to make the payments before and now I have used the personal loan from the family member to purchase a different vehicle. We have no money to pay for a vehicle we no longer have.......plus $200 more than we owed to pay it off. Is there nothing I can do?
Wiki User
∙ 19y ago
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My husband died a year ago. Can the finance company repossessed my deceased husband's vehicle although I have been making timely monthly payments?
no
In Texas do they have to inform you before they repo your vehicle?
It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.
In pa when a vehicle is repossessed does the finance company have to tell you what their doing with the vehicle?
Usually, they do not have to tell you what they are about to do to your vehicle. But, the procedure is is that they will sell your vehicle in an auction.
When do cars get repossessed?
Depending on the bank used to finance the car, after failing to pay 3-5 payments the vehicle will be repo'd.
Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?
No
What is surrendering your vehicle mean?
Surrendering a vehicle, in a financial sense, means that it is being repossessed and it is being given back to the finance company. The company will usually send someone to collect the vehicle.
Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?
no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it
What can you do legally if your camper has been repossessed without anyone notifying you?
Very little ! If you default on the payments, the finance company are quite within their rights to confiscate the vehicle. The camper does not become your property until you have made the final payment !
Can your vehicle be repossessed for late payments?
Obvious answer, Yes.
Can you return a car bought on a personal loan when you were told it was on finance?
Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.
Can a vehicle be repossessed if you allowed a military person to take over vehicle payments and he has not paid anything?
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
Can you get a dirt bike repossessed?
Yes. A dirt bike is the same as a street bike or any other type of vehicle. if you miss the payments, and the financier wants to exercise his rights to seizure, he can do so. If you are behind on payments the best thing to do is contact your finance company and explain your circumstances to him. There are probably options available to avoid repossession. The last thing any finance company wants to do is repossess their property.
