It depends if the loans are 'cross-collateralized". READ your contracts.
Go to a repossession auction. They are often advertised in the newspapers and on radio.
Possibly yes. They can resale your repossessed car dirt cheap and sue you for the difference in what you owed and what they got for it. Then they can sue you to collect that difference. If they win the suit they can have the sheriff pick up anything you own to sell at public auction to help pay that money they supposedly "lost". It's possible but not real likely. It depends on the mob that runs the finance Company
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
They typically get taken to a secure location owned by the repo company. Once the lender has handled all the legal notifications it would be sent to an auto auction that the lender uses.
Depending on the bank used to finance the car, after failing to pay 3-5 payments the vehicle will be repo'd.
They are impounded until further action is taken
One could search for repossessed cars for sale online at the websites provided by the companies Repo Direct, Auto Bid Master, Repos 4 Sale, Cars for Sale, Bank Repossessed cars and Repossessed Cars Sale.
Yes, your car can be repossessed. I ship cars for a company that repossesses cars out of state all the time.
Repossessed cars are usually auctioned off in the county they were repoed in, you can also try this link to help find repossessed cars, http://ultracarfinder.com/
Yes, your car can be repossessed by a company if you are behind on payments. However, it has to be a licensed repossess to be able to do this.
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
Cars repossessed laws in Canada a vary by provine.Whether your car will be repossessed depends on such factors as the province you live in and how for behind you are with your payments.Vehicle repossessed is negative impact on your credit rating. If you want more information email me at firstname.lastname@example.org
The biggest turn-off when buying Repossessed Car:As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the fact that Repossessed Cars were taken from their previous owners by the government, so they are basically used cars. Therefore, you must take all the steps necessary to find out about the history or the damages of the repossessed car yourself.Why you should still go for Repossessed Car:The easiest answer is: because it is very cheap. Normally, you can find one at as low as $200. Furthermore, even though repossessed cars have been used, they were taken away because their owners couldn't pay the bills, not because they were damaged or got into accidents. Thus, most of the times you will find very good repossessed cars that are perfectly normal and usable. Still, remember to check its history and VIN number! Also, remember to visit websites like www.vehicleshq.com to prepare your knowledge before going to a real repossessed car auction.
Your local car auction can provide you with a great selection of repossessed cars and trucks. You can contact banks and lending istituions for a list of cars tey have for sale most cars are sold at auction.
Well, I would recommend purchasing cars from your local car company of your choice itself because they offer a variety of products and services for an incredibly reasonable price.
Autobidmaster.com is a site where you can bid on those cars that have been repossessed. It offers a wide range of of models and locations of where the vehicles are being listed.
You can find cheap pickup trucks at auctions. When cars a repossessed or taken by the cops they go up at auction. You can bid on these trucks and get a good price for them.
They check them out and resell them after that for a cheap price.
There is no limit. Finance depends on your creditworthiness. If you were Bill Gates, you would easily get a million cars on finance. If you have no job, no income, then zero cars will apply instead.
They get resold as used cars to make some of the money back.
These entities regularly auction off repossessed cars. Places and times vary by bank and region, so call the banks in your area to get started.
Yes they can. It is especially acceptable if you listed them as references. Some of these finance cars offer incentives as a tactic to obatin information about the car's whereabouts.
nonpayment of loans, usually.