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Repossession
Florida
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Is 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?


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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.

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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.

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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.

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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!

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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.

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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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