answersLogoWhite

0


Best Answer

a lender can do as he/she pleases with the vehicle after 31 days...in the state of Alabama

User Avatar

Wiki User

βˆ™ 2011-09-13 18:37:25
This answer is:
User Avatar
Study guides

What unit is used to measure resistance

What is the voltage drop through a resistor of 6 ohms 2 amps

A 5 ohm resistor a 10 ohm resistor and a 15 ohm resistor are connected in series to a 120 volt power source What is the amount of current flowing between the 5 ohm resistor and the 10 ohm resistor

What is the equivalent resistance through the parallel portion of the circuit

➑️
See all cards
4.33
β˜†β˜…β˜†β˜…β˜†β˜…β˜†β˜…β˜†β˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: When can the lender resell a repossessed vehicle?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How do you find out if someone elses vehicle has been repossessed?

"YOU" dont, the debtor does. call the lender.


Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?

No


Can you get a vehicle back after it has been repossessed?

YES,, CALL the lender and find out HOW MUCH it will cost to do so.


Do you have to pay on a repossessed car if not sold?

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.


When can a car be repossessed in Texas?

In most instances when you get behind on your payments. The exact details of when the lender will repossess the vehicle is listed in the contract you signed when you took out the loan on the vehicle. Read your contract with the lender.


What do they do with repossessed cars ?

They check them out and resell them after that for a cheap price.


What is the time span of a late payment until your vehicle will be repossessed in the state of North Carolina?

That is determined by the LENDER.


Is the cosigner of a vehicle liable if the it gets repossessed?

Yes. That is the point of the lender asking for a cosigner. The cosigner will have a repossession showing on their credit as well as the primary lender.


When your vehicle is repossessed where does it go?

Depending on who the lender is and how they dispose of repos, it will go to the repo cos. storage lot and then to the auction.


How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


Can a vehicle be repossessed for insurance lapsing?

I would not think so, but, your lender does require that you carry collision insurance on the car, which is the lender's collateral. It depends on what the note you signed says about this. Read it.


What is Missouri Law for paying off repossessed cars?

The laws for all US states are much the same. In MO. when a vehicle is repossessed by the lender due to a default in the terms of the contract the lender is required to sell the vehicle at public auction for the amount closests to its assessed value. If there is a discrepancy in the amount for which the vehicle is sold and the balance of the loan, the lender may pursue collection for that amount in the manner the law allows, which can include a lawsuit.

People also asked