I dont see it but call a local attorney for a LEGAL opinion. I have never heard of FL. having a 'right to Cure" law. I am NOT an attorney.
Title XXXIX COMMERCIAL RELATIONS Chapter 679 UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS View Entire Chapter http://www.flsenate.gov/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch0679/SEC610.HTM&Title=->2003->Ch0679->Section%20610#0679.610 679.610 Disposition of collateral after default.--
(1) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.
Repossessed cars are generally sold at auctions, so look out for car auctions in the local press. Make sure that you ask for a catalogue before the auction and do some research before you go to bid.
I'm assuming you were the (former) owner trying to get your car back. In that case it's up to the lienholder what they require. If, instead, you're buying a repossessed car at an auction, it's typical practice that all purchases must be settled in full immediately; there's no financing available.
pay all owed monies and get the car before its auctioned ! only takes a few days before the car goes to the auction . they will the car fast even at at a loss!
Yes, they also have to send you official letter from auction at the price they sold it to deduct from the amount you own to the bank.
Its NOT a matter of HOW late, just that you ARE late. Read your contract. That should explain when you are in DEFAULT.
The biggest turn-off when buying Repossessed Car:As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the fact that Repossessed Cars were taken from their previous owners by the government, so they are basically used cars. Therefore, you must take all the steps necessary to find out about the history or the damages of the repossessed car yourself.Why you should still go for Repossessed Car:The easiest answer is: because it is very cheap. Normally, you can find one at as low as $200. Furthermore, even though repossessed cars have been used, they were taken away because their owners couldn't pay the bills, not because they were damaged or got into accidents. Thus, most of the times you will find very good repossessed cars that are perfectly normal and usable. Still, remember to check its history and VIN number! Also, remember to visit websites like www.vehicleshq.com to prepare your knowledge before going to a real repossessed car auction.
It depends on the nature of the seizure. A repossessed vehicle has to be returned i it has not been auction to a 3d party. If money was seized by a tax agency, maybe.
WE'RE ON OUR WAY!!!!!
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
You are not able to purchase a home prior to auction unless the auctioneer and/or auction company has provisions with the seller to permit such a sale.
I think you have like 10 ir 15 days, they have to send you a notice stating when the car will be sent to auction and what date time and place the auction will be, you have until the day before the auction to pay the amount they are demanding. Keep in mind though the sooner you pay the more you save, because they have the right to move the vehicle to another location at any time, which might incur more charges.
If a bank was to repossess a car then your car would be put up for auction. You may get the car back at any time before the auction by making the lost repayments up. Many people wait till the auction and buy the car back at a very low price according to one of the websites on the internet. This way they pay less than the repayments were costing and have got their car back.
It means when you can't pay for something , you surrender it before it is repossessed.
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
In today’s tough economy many car buyers are looking for ways to save a buck. Repossessed cars can offer good value on high quality vehicles for low prices. Because of the rough economic times there are currently more repossessed cars up for sale or auction than ever before. Repossessed cars are not to be confused with seized or abandoned vehicles that are typically sold by police departments. These are vehicles that have been taken back by banks or loan companies after the buyer defaulted on the payments. Many banks are simply looking to collect the balance due and may even be willing to take a slight loss. It’s better for them to recoup some money than nothing at all. Because of this there are plenty of bargains to be found. Many of the vehicles are only one or two years old. Finding repossessed vehicles is as easy as searching online. You can also check local newspapers and community bulletin boards. Call your local newspapers and ask them if they print local car auction information. Be sure to fund out what days the information is published on. Another method is to call local banks and loan companies to ask them about their repossessed cars. Check online or your local yellow pages for nearby auction companies that deal with repossessed cars. They’ll be happy to give you a list of auction times if you give them a phone call. With a little bit of effort you can usually get them to give you a list of vehicles that will be up for auction right over the phone. Last of all, look for small banks and institutions with repossessed cars they wish to sell directly. You may even be able to negotiate a cheaper price than they initially ask for. When searching for bargains it pays to do some research. Get yourself an up to date copy of Kelly Blue Book and the N.A.D.A. Guide. If you can find out the make, model, and year of the vehicles up for auction, you can find their value before making a bid on them. Find out in advance if you can get any guarantee or warranty on the vehicle before you commit to buy.
If you don't pay for 30 days, they'll usually place their own lock on the unit so you can't access it until you get up to date. 3 to 6 months after that, they will eventually auction off the contents of the unit.
To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements.
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.
In Canada the answer is yes if it is repossessed by a bank (or credit institution). Any car that is re-possessed by a bank or credit company has to be put up for auction. You can always get your vehicle back if you pay whatever arrears you owe the bank as well as the the fees that the bank had to pay to the repo company before it is sent to the auction house. However, you do need to act quickly. I have never heard of anyone getting their vehicle back once it is up for auction (and in Canada the auction companies used by banks are only open to car dealers).
no you do not get to puchase the vehicle before it is auctioned the loan company will have tried to contact you to make the payment it would then be up to you to get the car from the other person by way of repossessing it yourself through small claims court