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What happens when towing company auctions your car and you have a car loan?
Wiki User
∙ 10y ago
Then you're screwed. The tow company put a mechanic's lien on your car, then they auctioned it off to recoup their costs. You're still liable for the payments you owe to the finance company.
Wiki User
∙ 10y ago
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If your transmission was damaged during the towing of your repossessed vehicle which you recovered can you get the towing company or lender to pay for the damages?
Probably not. The risk was yours since towing was the logical next step for failing to meet the requirements of the loan. It was your failure to meet the requirements of the loan which led to the vehicle being repossessed which subsequently caused the vehicle to be towed. All the towing company needs to do is to prove that they used standard towing practices.
When a car loan company go out of business what happens to your loan?
You continue to pay it as normal because your loan is thru a bank not the actual company, if your financing thru there company then you should be going thru a bank now.
Can a company sell a student loan to another company?
In the US, yes it happens quite often.
Can your car get repossessed even if it has been towed by another towing company for a parking violation?
Yes, the lender can recover the vehicle by paying the towing fee and other charges and then add the expenses to the loan amount the borrower already owes.
What happens if you miss a loan repayment?
They charge you a late fee, it goes on your credit report and you could get a phone call from the loan company.
What happens if you have a clean title and loan is secured can finance company still repossess?
Maybe
Can a towing company put a lien on an automobile even when the loan on the car hasn't yet been fully paid off and the bank still holds the title?
Yes.
How do you use your car towing packages with your loan?
Generally, I can't think if any way that your towing coverage would have anything to do with you auto loan. If your vehicle was repossessed and charged your account for the cost of repossession your auto policies towing and labor coverage would not cover this cost.
What happens after your vechicle is auctioned?
If your vehicle is auctioned off you will have to pay the difference from what the vehicle was sold for vs the actual loan amount left over. Plus the towing fees and auction fees.
What happens if you Car title loan in default and car is totaled?
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.
What happens when your purchase a car and the auto loan does not go through after you have the car of 3 weeks?
Same thing happen to me. You have to retun the vehicle or find a loan from another company.
What happens when you pay off an auto loan?
the bank cant come and steal it. but the insurance company can if you dont pay that
