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What if the co-buyer says they are not going to make any more payments and the vehicle breaks down and need repair?
Wiki User
∙ 13y ago
If the cobuyer is in possession of the vehicle in this scenario, then eventually the lender will put it out for repossession. Once located, the repo agent will secure the vehicle or will have it assessed for the lender to determine if they want it or not, if it is worth repossessing. Either way, if you are the primary on the account, it will negatively affect your credit. It might be better for you to contact the lender and divulge the location of the unit. As a signer on the loan, you have the right to sign a voluntary repossession and surrender the vehicle. In light of the irresponsible behavior of the cosigner, it is the right thing to do.
Wiki User
∙ 13y ago
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Can a repair shop keep a vehicle as collateral for repairs if the owner is still making payments on the vehicle to a used car dealer?
YES! Pay your repair bill and the problem goes away.
Can a company repossess your vehicle if your payments are up to date?
Not legally, but if you bought the car from Barney's backyard sales & mower repair, maybe.
Can a repair shop keep possession of a vehicle after all payments have been made?
Yes..If they paid you for the vehicle it now belongs to them..Other than that if you're paid up then the car belongs to you.
Can your lienholder hold your repair check from the body shop after the shop has repaired the vehicle and requested the money?
Yes, they can and, yes, it does happen. Primarily, this happens in situations where the person is behind in their payments. The lienholder will apply the check to the back payments.
Is it a voluntary repossession if the vehicle broke down and was towed back to the dealer one day after it was purchased?
If you 'returned" it as in "I dont want this car anymore and I am NOT gonna give you a chance to repair it", then it was a vol repo. If it was towed in for repair and you never came back to get it from the repair shop, then it was a repo. If you havent paid any payments on the contract you signed, it was a 1st payment DEFAULT and a repo.Unless you got the lender to agree to a clause in the contract that said"if the car breaks down, I DONT have to pay", then it is a repo. Did I miss anything?
Should Automobile be fixed or replaced?
To the intelligent person, that decision should be a function of the value of the REPAIRED vehicle as compared to the projected cost of repair. You should determine the value of the vehicle BEFORE repair, add that amount to the cost of repair and if that total is MORE than the value of the vehicle after repair, sell the vehicle without repair. Some people have an emotional attachment to a vehicle. That changes the way you make decisions.
Does a repair shop have the right to keep a vehicle until payment is made?
Yes. It is called a mechanic's lien and they can maintain possession of the vehicle until the balance owed is paid in full. They may be willing to enter into an arrangement whereby you would make payments to them, but they are not required to do so.
You have bad credit 7000 dollars for a used car can you get approved with low monthly payments?
Someone may approve you but you will have an outrageous percentage rate and your payments will be high. Safe to say with bad credit you will have payments over 500.00/month for 7,000. Try to get some of the money together or begin to repair your credit or set you sights lower for a cheaper vehicle.
Does the BBB keep records of complaints on vehicle repair?
yes the BBB does keep track of all the complains about vehicle repair
Can a repair shopin Wisconsin sell a vehicle if im still making payments on it and it still has a lien on it.the repair shop chareged me for storage that i could not afford and turns out they sold it?
Yes, after a certain amount of time they can post it for sale and then if it doesnt sell they can go about getting a title then really sell it.
What causes transmission to lock in park on 2008 dodge avenger?
A spring retainer in the shifter breaks. The dealer has a repair package, and some are under a recall.A spring retainer in the shifter breaks. The dealer has a repair package, and some are under a recall.
How do you fix your brige on the violin?
If your bridge breaks, take it to a repair shop.
