HomeIs it legal in the state of Florida to send a car to an auction and make repairs before 10 days after it has been repossessed?
Wiki User
2015-07-16 18:31:08
2015-07-16 18:31:08
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.
Related Questions
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.
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