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Auto Loans and Financing
Repossession
Co-signing

Is the owner of the car responsible for any payments after it is repossessed?


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Wiki User
2004-11-23 22:10:08
2004-11-23 22:10:08

As a rule, YES. Read the contract you signed for more info.

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The only way you can have your car repossessed would be to not make any payments. If you have taken out a loan and have not made payments, they will take your car away.

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A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.

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Once the agent takes possession of the vehicle, they are responsible for any damages which occur.

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I would insure any car that I was driving or making payments on. If you are on the title then you are an owner.


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