Best Answer

YOU are responsible for the car to the loan is payed off. The more it sells far after repo, the less you will have to pay later. get the car back, clean it up, and give it to the lender. WHY??? Folks who drive cars that don't cost them anything usually don't take care of them and the car isn't worth much when it gets to the auction. Basically you are GIVING them money that YOU will have to pay back. Its NOT good.

User Avatar

Wiki User

โˆ™ 2011-09-13 12:00:18
This answer is:
User Avatar
Study guides
See all Study Guides
Create a Study Guide

Add your answer:

Earn +20 pts
Q: What happens if you are no longer in possession of the car that is being repossessed?
Write your answer...
Related questions

What happens to an unpaid parking ticket when the car is being repossessed in Miami and the plate no longer exists?

The ticket remains the responsibility of the person who had the licence plates registered to them at the time the ticket was issued.

Can you go to jail for being a Minor in possession?

Happens every day.

What happens to a person if they hide motorcycle that is being repossessed?

Nothing will happen to a person if they hid a motorcycle that is being repossessed. Eventually, the company that is trying to repossess will either give up or find you. They will use all tools at their disposal depending how much is owed at the time.

What is Georgia law against hiding car from being repossessed?

The only way to hide a car in Georgia if facing being repossessed is by filing chapter 13. If you have filed for chapter 13 it is legally ok to hide your car from being repossessed.

Can a repossession agent take a car without telling you where it's being held?

Yes. When the vehicle is repossessed it no longer belongs to you and there is no requirement to tell you where it will be stored.

What happens after a repossession?

After a repossession, you will need to pay a fine usually. For example, if this was a car being repossessed, you would have to pay a certain amount to get it back.

What happens when you take a car out of state when it is being repossessed?

I can can be legally repossessed no matter where it goes in the USA. As long as the repossessor can find the car and identify it as the one to be repossessed. It may not be cost effective if it is a long distance unless the vehicle is of greater value than the cost of returning it and paying someone to do that. They can also wait until you return.

Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?

If the dealer calls you after the car has been repossessed, then you should inform them that you no longer have the car. They can contact the finance company to verify the information.

Can you take possession of the car if the borrower stops making payments even though they have been paying for a year?

Only if your name is on the title, and only if the primary borrower defaults and the vehicle is subject to being repossessed by the lender.

Does a divorce decree keep a car from being repossessed?


What happens when the chain of dimethisoquin is made longer?

Studies have shown that the longer the chain, the longer its duration of anaethesia. The longer duration is due to the drug being able to stay longer as it sticks to the lipid bilayer.

Can your car get repossessed while being serviced at a dealership?

Yes it can.

Do the police know that your car is being repossessed?

Generally speaking, no.

Can you file for bankruptcy after 3 years of car being repossessed?


Can your car be repossessed before being 90 days late?


When you rent and the house is gettin repo?

If the property is being repossessed, you should expect to have to vacate. That is because the owner no longer has control of the house he is renting to you. Alternatively, you can try to call the lender and make new arrangements.

Do you have to talk to the repo man if he comes to your job or home?

No, but he'll usually have to give you some notification that your vehicle is being repossessed. By the time he comes to talk to you, it usually means he's already hooked to your vehicle, at which point, it's in his possession, and there really isn't anythiing you can do about it.

How do you fight a minor in possession?

By being able to convince the judge, or hearing officer, that you WEREN'T in possession.

What happens in denaturazation?

Denaturazation happens when a protein is exposed to hostil environments. After being exposed the protein is re shaped and is no longer able to function properly.

Ex football player Sammy smith how long is he in jail for?

Smith is no longer in prison. He served seven years after being convicted in 1996 on a cocaine possession and distribution charge.

What happens if your car is stolen prior to being repossessed?

Your insurance would be responsible for the value of your car, minus the deductible. Make sure you have a police report and a very good alibi as you could be a suspect for the theft.

How many days late on car payment before it can be repo?

The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.

What is the meaning of dispossession?

The act of putting out of possession; the state of being dispossessed., The putting out of possession, wrongfully or otherwise, of one who is in possession of a freehold, no matter in what title; -- called also ouster.

How do you find out where your repossessed car is being held?

The local police or the lender can tell you who has the car.

Can a car be repossessed in California without a lien being placed on the title?

IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.