Best Answer

Yes, the loan is not paid in full if there are unpaid lates fees

User Avatar

Wiki User

โˆ™ 2005-10-20 14:53:55
This answer is:
User Avatar
Study guides

Create a Study Guide

Add your answer:

Earn +20 pts
Q: Is it legal for the finance company to repossess your car for late fees even though the loan is paid in full?
Write your answer...
Related questions

Can a finance company change your registration when trying to repossess your car?

Is it legal to? NoIs it possible to? NoThe finance company does not have possession of the vehicle so can do nothing with the paperwork on that vehicle until the do secure possess of it.

Can a company repossess tires?

It's highly unlikely, as it simply wouldn't be worth it. They can threaten legal action and damage your credit record though.

Is it legal in CA for a finance company to repossess a car then say they didn't?

repo and say they didnt? NO, not legal. Bought back and given back to dealer?? Never heard of it. Call a local attorney for a consultation. Smells fishy to me.

In Florida is it legal for a company to repossess your vehicle if that is your only means of transportation to and from work?

YES,its legal in every state.

Is global edge finance a legitimate business?

is global edge finance in London a legal company

Is global edge finance company in lodon legal their phone number is 4420351433?

is global edge finance in London legal phone no +4420351433

If you filed bankruptcy two years ago and called the finance company to repossess a car but they never came to get it until now do they have a legal right to it after all this time?

YES,its still their car. You should have had it towed away 3 months after filing. NO, you cant charge them storage.

Can finance company repossess car for no insurance?

Absolutely. The finance agreement that you sign when you purchase a vehicle states that you agree to carry full coverage on the vehicle and to list them as the leinholder. By them being listed as leinholder they get notified of any cancellations, late notices, and renewals on the policy. It also gives them some special rights such as a 20 day notice before cancellation instead of 10 days. You pay for the extra 10 days notice. The finance agreement also states the maximum deductible that you can have on the policy. Remember that the finance agreement is a legal contract. if you break any part of the legal contract they have the right to repossess the collateral (the vehicle). The agreement also states that you are responsible for a repossession fee in order to get the car back. There is probably storage fees involved as well.

Can title loan company repossess your car in another state?

Yes. The lienholder is the rightful, legal owner of the vehicle, and can take possession of that vehicle anywhere.

I need to remove my finance company's name from title. I want my CA paper title to read my name only and not company name?

You need to take the release form and the title to the DMV. They will issue you a new title without the finance company on it. They will NOT do this until / unless you have the signed title and a release from the finance company / legal owner. The process costs only a few dollars.

What legal measures does company have to do before reposing a car in al?

The car company has to provide all the necessary notices before it can repossess a car. Also, the company has to follow the proper procedure, and avoid any actions that harass the car owner.

Can a creditor repossess a car if the account is current?

not without legal cause

Is it legal to repossess a car in Kentucky if you are disabled and this is your only means of transportation?


Is it legal for the lender to repossess a vehicle after you made arrangements and they accepted a payment?

it is legal, until it is paid for 100% and you have a title it belongs to them.

How do you report a person hiding their car from repo man?

Are you really that desperate to be a snitch? I mean, it's a matter between the lessee and the agencies seeking to repossess the vehicle (those being the finance company and the recovery agents). It's none of your business, and the best thing for you to do is to just stay out of it. If they're halfway competent repossession agents, they'll get to the car. If all else fails, the finance company - being the actual owner of the vehicle - has legal options at their disposal. Your intervention is neither wanted nor required, and I'm saying this as someone who has been in the repossession business.

Is it legal for a car dealer to repossess a vehicle after 27 days late on payment?

Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.

Is the repossession of a vehicle by a finance company illegal?

No, it's 100% legal. That finance company is the lienholder. What that means is that, until you've paid that vehicle off and have acquired the title, the lienholder is the rightful owner of that vehicle, and has every right to reclaim their property when the conditions of the contract are not met by the lessee.

Is it legal to repossess a car in Michigan from a repair shop?

Yes. A lienholder is the lawful and sole owner of that vehicle, and it doesn't matter where they repossess it from, so long as they do it in accordance with state laws for repossession.

Is it legal to go onto private property to repossess a car?

No, they are allowed to come and take it away.

Can finace company put down payments on a customers account that they had never made and put down reversals made on the pay ment and then say insuficient funds?

If you had a dispute with a auto finance company that had put down that you had made a payment on a certain day and you and your bank no that you didnt but the finance company is trying to say that you did is it legal for this kind of stuff to be done?

Is it legal to take your car back from title loan company after repo?

You're talking about trying to repossess it from the repossessor? Short answer, no. You're committing theft - possibly grand theft, depending on the vehicle's value. But the repo agent coming to repossess your car isn't commiting theft. Double standard? No. The thing of it is, it is NOT your car - the lienholder is the sole rightful and legitimate owner of the vehicle. The repo man isn't taking your car away - he's reclaiming the lienholder's property after you failed to meet the terms of the finance arrangement.

Is it legal to repossess your work truck when you are self-employed?

Yes, if you are not making the payments the bank can repo your truck.

Is it legal to repossess a vehicle for late fees and not regular vehicle payments?

Yes. Any amounts owing.

How many days late on a payment do you have to be in order for it to be legal to repossess a car in Florida?

What is the legal age to finance a car in Tennessee?