it is legal, until it is paid for 100% and you have a title it belongs to them.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
A creditor can repossess a vehicle at any time after a default(late payment, lack of insurance, etc.) occurs on the contract.
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
They are not going to repossess a vehicle because you were rude. They can however repossess it if you miss just one 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.
Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.
No, and why would they? If the payments are up to date and have been made on time, there would be no reason for the dealer to repossess the vehicle.
can you repossess a car for non payment of late fees even though the initial payment has been made in Colorado
It depends on the terms of the contract. Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed.
The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.
No. Their terms and conditions were laid out for you in the contract which you signed when they financed your vehicle. If they do give notice, it's more as a courtesy, and also because they'd much rather you make your payment than to have to repossess your vehicle.