No it's not illegal to repossess a car outside the state. It is illegal to leave the state with the car that you have defaulted on the loan.
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
The estate has to resolve the loan, either through selling the car or returning it to the lender.
Every car obtained on loan definitely is an insured one.One gives loan on insurance basis only.
Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.
they take your car
Well yes.... The car in question is already collateral for the first loan.
The creditor reposseses the car, and you take the bus.
That's illegal. Technically, if you 'borrow' money against your vehicle, the car becomes the property of the loan company until you've repaid the loan. If you sell the car before the loan is repaid, you're likely to land yourself in court !
You need to make arrangements to pay it off.
u eventualy lose your car