answersLogoWhite
Ask
Repossession
Personal Finance
Loans
Money Management

What do you do if you owe money on your car and want to have it repossessed but the loan company will not?

575859
Answer

Top Answer
User Avatar
Wiki User
2004-05-09 00:34:19
2004-05-09 00:34:19

Maybe it doesnt meet the loan cos. repo specs?? (not running,wrecked,ect) Do you know where their office is? Is it lcal? If so, take it to them and leave it in their parking lot. If they dont have a local office, call atowing co. to come get it,they can handle getting it repoed. OR leave it at the city PD parking lot.

1
0

Related Questions

User Avatar

You can, but there is no guarantee the loan company will do so. They do want the money however more than the car, so if this is the first rough patch you've hit, they may. Just act quickly.

User Avatar

Yes. And the payoff, will usually be less than the amount owed on the loan. Work with the bank. They do not want the car, only their money.

User Avatar

That's the point. They want the money, not the car, so they garnished your wages to pay that loan. Keep it, drive it, enjoy it. If you want to sell that car, any money would FIRST go to pay that loan and you could keep any cash left over.

User Avatar

Yes, but you would have to get a loan for the payoff amount from the loan company you want to use

User Avatar

If You Have A Clear Title On Them, About Anything You Want. If They Have A Lien On The Titles, It Will Have To Be Removed By Payment Of Loan. Otherwise Contact The Loan Company And Have Them Tell You How To Deal With This In Writing. Be Sure You Get Written Information Before You Do Anything If They Show A Lien.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.