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They usually take them to auction after a brief storage period either at the collection agencies or lending institutions yard.

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โˆ™ 2005-08-31 11:35:49
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Q: When cars are repossessed where does the finance company have them taken?
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Related questions

If you have two auto loans with the same finance company can both cars be repossessed if one is current?

It depends if the loans are 'cross-collateralized". READ your contracts.


How do you buy finance repossessed cars in Australia?

Go to a repossession auction. They are often advertised in the newspapers and on radio.


If you own two cars and are able to make payments on only one and are letting one get repossessed can the finance company for the repossessed car do anything toward the remaining car?

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


Do you have to pay the whole vehicle off if it is repossessed?

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.


Where do repossessed cars get taken in seminole Florida?

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.


When do cars get repossessed?

Depending on the bank used to finance the car, after failing to pay 3-5 payments the vehicle will be repo'd.


What happens to cars that have been repossessed but not auctioned off yet?

They are impounded until further action is taken


Where could one search for repossessed cars for sale?

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.


Can your car be reposessed if you move to another state?

Yes, your car can be repossessed. I ship cars for a company that repossesses cars out of state all the time.


How can a person find and buy repossessed cars?

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/


Can anyone reposes cars?

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.


Where can repossessed cars be bought?

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.


What are the laws of repossessed cars in Canada?

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 natalsiapatterson34@gmail.com


What is the catch in buying repossessed cars?

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.


Where can I find cheap repossessed Cars?

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.


Which government auto auctions sell repossessed cars?

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.


Where online can I go to find repossessed cars for sale?

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.


Where can I buy cheap pickup trucks?

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.


What do they do with repossessed cars ?

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


How many cars can you get on finance in your name?

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.


What happens to cars after they have been repossessed?

They get resold as used cars to make some of the money back.


How can I buy Repossessed Cars from bank or title lender?

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.


Can finance company contact family and friends about car location?

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.


Why are cars and trucks usually repossessed?

nonpayment of loans, usually.


Does Bpi Savings Bank have repossessed cars for sale?

yes