It means the bank, or whoever loaned you the money for the car, will send people out to take it back.
potentially, yes; consult a lawyer
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.
If you kept the repossessed vehicle, the lender could reposses it again and sell it. If this was just a contract to repay the debt, they could sue for money damages just like it was a promissory note.
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
If it has been repossessed the lender will usually stop all collection activities until the vehicle is disposed of through sale. It is unusual but the lender could decide to keep the vehicle but should they do that than they waive their right to a deficiency.
Surrendering a vehicle, in a financial sense, means that it is being repossessed and it is being given back to the finance company. The company will usually send someone to collect the vehicle.
by paying the bill or rebuy it at an aucton
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
no!
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