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Private party seller with borrower not the holder of the title and driving the vehicle Can the vehicle be repossessed by the seller if 5 out of seven payments were late or short and the last not paid.?
Wiki User
∙ 10y ago
Almost certainly the answer is yes. You'd need to check the law in your area, but you've pretty clearly defaulted on the terms of the loan and generally the lienholder doesn't have to be as nice about it as this seller has already been.
Not only that, but the seller has every right to charge you the difference between the amount remaining on your loan and the fair market value for the vehicle (if they sell it at a used car auction, the FMV will normally be whatever they get for it at the auction).
Wiki User
∙ 10y ago
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Can you insure a car that you are paying payments on until its paid for from a private owner who holds the title?
I would insure any car that I was driving or making payments on. If you are on the title then you are an owner.
If you are a cosigner on a vehicle loan and your name is listed on the title as OR then what rights do you have when the primary buyer defaults on payments?
You have the right to pay the loan. When a cosigner enters into a loan agreement he is promising to assume responsibility for the debt should the borrower ever default on the loan. This means simply that if the borrower stops making payments the cosigner will have to take over the payments. You may even be responsible for the full payment of the loan in the event that the borrower dies or is disabled. The cosigner, or in many times, the co-borrower is equally responsible for the debt. The debt will be reflected on the co-signors credit report and may negatively impact the person's credit should the debt become delinquent. If the primary borrower cannot pay the debt, the lender will pursue the co-signor just as equally as the primary borrower. In some cases the lender may only go after the cosigner. If you cosign on a auto loan and the borrower does not make his payments, you will be responsible for making the payments even though you do not have posession of the vehicle. The borrower will be driving around in a vehicle that you are paying for, and it can be a nightmare to extract yourself from this situation. You will not only be responsible for any arrears of the loan; you will also be responsible for any late fees, additional interest, and collection fees.
Can a person who holds title to a vehicle have it repossessed from someone driving it as a loaner?
Report it stolen.
Can your car get repossessed for license suspension?
No. However, if you're caught driving on a suspended license, your car may be impounded.
If you have a car that everything is in your name but the loan says your the co-signer and now the buyers are making payments what are your rights and theirs to that car and can they take the car?
You are confusing me. If everything is in your name, how can you be the co-signer and not the primary borrower, and where did the "buyers" come in? Are you, perhaps 16-17 years old and your parents took away your driving privileges?
Do you know where I can get private driving lessons?
Private driving lessons vary in where you are located. Bell's Auto Driving school is located in various areas around the country. Here is the URL to find your nearest location: www.bellsdriving.com/privatelessons.cfm
Where can you drive recklessly?
Nowhere *Added - On your private property, in most US states, the only ticket you can typically get for improper driving is drunk driving unless you hurt someone, in which case you can still get a ticket on private property for reckless driving.
Driving on private land with a tractor at the age of 14 do you need an adult with you?
No
In what cases are private individuals held liable for company car leases?
Private individuals are not responsible for company car leases. Company car leases are taken out by the company as a business. If for any reason a company defaults and doesn't make payments, it is generally repossessed from the company.
What is the primary mode of transportation in Libya?
ether walking or driving a private car...
Can you get a driving while suspended ticket while parked on private property?
yes
What is your liability of a car that has been repossessed from you but the tow company is driving it around town?
unless your going to come up with the money to get it back,who cares,its not your problem any more (:
