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Is it the same thing as repossession if you call the loan company to pick up the vehicle since you can no longer pay for it?
Wiki User
∙ 19y ago
It will show as a VOLUNTARY repo but still a repo. It will indicate to other lenders that you know when you are over extender and that you DO NOT attempt to use their collateral without paying for it. It IS a good idea to do so.
Wiki User
∙ 19y ago
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How long does car ins have to pay a claim on burned vehicle?
The insurance company will run an investigation as to its cause, particularly since they do not want to pay for a vehicle that someone has burned the car to fraudulently avoid paying for the car or who is in the midst of repossession.
Can a repossession still be reported to your credit if the company has since sold the car?
Yes, because reguardless of what the company did after they took back the car, the fact still remains that it was repossesed.
If you had a repo in the past can you still buy another car?
Yes, this is not only possible, but if you were responsible and surrender the vehicle for repossession it can be quite easy. I have had both a voluntary repossession as the result of a BK, and a voluntary lease surrender for the same BK. Since that time, long, log ago, I have had many vehicles, and many vehicle loans. At first I of course paid higher interest. But even that reduces with time and a good history.
What are my rights if a commercial vehicle is illegally repossessed?
Well, first, you'd have to explain how the repossession was illegal. There really isn't any such thing as "illegal repossession"... repossession is a legal process by which a lien holder can recovery property which does belong to them in response to a delinquency of payment or violation of the contract.A vehicle which has no grounds for repossession but was taken was not repossessed - that's theft, plain and simple, and if that's the case, then you'd file a police report, an investigation would commence, arrests would be made, and you'd either recover your vehicle or get an insurance payment if the vehicle was unrecoverable. I'm guessing that's not the case, since you're asking this question here.State laws on time which a delinquency must continue for before seizure of assets can be made varies by state... if this law was violated, then you're going to have to lawyer up and take the legal route against the lienholder (the repossessor is not liable in this instance, as they are contractors following the instructions of the lien holder).A criminal act on the part of the repossession agency has occurred if...A locked gate is breached in the course of the repossession.A secured building is unlawfully entered in the course of the repossession.A vehicle other than the one being repossessed was entered without permission during the course of the repossessionProperty damage occurs during the course of the repossession.In the case of a commercial vehicle, a cargo payload is taken with the vehicle.A trailer attached to the repossessed vehicle which itself is not up for repossession is taken with the vehicle.In those instances, a police report needs to be filed. However, if the repossession itself is legit, that still won't get you the vehicle back.
How much freon in a 1997 cavalier?
Freon (R12) is no longer in production, and by law has not been used in any vehicle since 1995.
Is it legal to repossess a car from someone's personal property such as their yard or driveway?
Yes. Since the vehicle is no longer the property of the former owner, the lending institution is allowed to have their agent (repo man) recover their property for them. Their agent is allowed to go anywhere that is not fenced, locked or otherwise restricted. If you deliberatel hide the vehicle or prevent the lending institution from gaining acces, it can be considered a form of theft, since the vehicle is no longer yours. * In addition, if the lender has obtained a replevin order the vehicle must be surrendered. When a court order has been issued the agent may enter a locked area or posted area or do whatever necessary short of physical violence or property damage to seize the vehicle, cutting a chain and/or a lock is not considered property damage. Be advised, in most states attempting to hide or prevent repossession of a vehicle where a replevin order is in place can create serious legal consequences for the borrower.
Can your boyfriend add you and you still keep your own insurance policey?
He can add you as a driver on his policy, but your vehicle cannot be added since a vehicle can only be insured by one company at a time.
How do I get car insurance when I have taken over someone's car loan?
You need to make sure you have a written contract buying the vehicle and that the finance company or bank has changed the name on the contract or I would not recommend taking over a car payment. The reason is that the vehicle is not yours in any way or fashion. It belongs to the other person even if you are making the payments it still belongs to them. For this reason, you cannot insure a vehicle you do not own. The insurance company cannot pay you if the car is totaled and they cannot pay the other person because they don't have an insurance contract with the company. Sometimes the company will make an exception if you have a contract with the seller.
What company makes the Grande Punto?
The Grande Punto is produced by Fiat, an Italian automobile company. The Punto is a type of minivan. This vehicle has been manufactured since May 2005.
I am going to be a commercial truck driver for a local company; do I have to have additional insurance, or do they cover it since it's their vehicle?
If the company you are going to work for owns their trucks than they will already have them insured.
What is the manufacturer of the Lada Niva vehicle?
The Lada Niva is a vehicle that is manufactured by the Russian company AvtoVAZ. It is an off-road vehicle and has been produced since 1977. The Lada Niva is also known as the Lada Sport and Lada Taiga.
Do you have to repair a car deemed totalled if it only has cosmetic damage?
This comes up a great deal. The auto policy states that the insurance company will at their option repair the vehicle, replace the vehicle, or pay the actual cash value of the vehicle. This option belongs to the insurance company. The way it generally works is that there is never a replacement so forget that part. That leaves repair or pay the acv of the vehicle. If the cost to repair the damage of the vehicle exceeds about 70-75% of the ACV then the company will choose to pay the value of the vehicle. The vehicle then belongs to the insurance company. Sometimes you can let the adjuster know that since the damage is cosmetic only you would like to keep the vehicle if at all possible and they will usually work with you.
