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When your car gets repossessed after 2 months of non payment can you get your down payment back?
Wiki User
∙ 12y ago
No once it's repo'd you either have to work it out with whoever financed the vehicle to get it back or your at a total loss. And banks will sell the vehicle at an auction to the highest bidder which most likely if you just got the car will be thousands less than what you just financed it for,which you'll also owe on top of your loss.
Wiki User
∙ 12y ago
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How do you get your down payment back on foreclosed property?
Your down payment was used to purchase the property and was paid directly to the seller. You don't get it back.
Where can you get a loan to buy back your car that was repossessed?
Mike, that depends on how great your credit is. A repo on your record is NOT going to help. Any interest rate you get will be HIGH because of your credit rating. With a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck
At the end of a car lease do you get your downpayment back?
No, you do not. It's a down payment, not a security deposit.
Can you get a repossessed car back without paying the entire loan?
It is very difficult but if you have a good relationship with the bank they may allow you if you pay some of the debt down.
Can you use sellers assist for the down payment on a home?
Essentially, they are lowering the price, not providing for your down payment. Also, the lender is going to want that money to come from your account... This is ONE way there are others where lenders will gift you the down payment which comes back to them at time of closing or just find a 100% lender.
What will happen if your car down payment bounced and you made a particial payment?
The car will probably be repossessed.
I paid cash for my vehicle and it was repossessed without any attempt to contact me am I entitled money back?
No, your down payment and any other payment you have made will be put to your subtotal for the car.
Can a car be repossessed if you are late making the remainder of the down payment but have been on time making the car payment?
YES, making the down payment is part of the contract and you are in default on it.
What are some incentives car dealers give you to trade in your car?
YOU HAVE TO HAVE A GOOD DOWN PAYMENT, IF YOUR CREDIT IS GOOD ENOUGH YOU DON'T HAVE TO PUT A DOWN PAYMENT,WARRENTY FOR 12 MONTHS, CASH BACK
If you have a car voluntarily repossessed can you get another car?
YES, usually you pay MORE down payment and/or higher interest rates.
Can a car dealership repossess your car if they say you owe them more money for a down payment?
A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.
How do you get your down payment back on foreclosed property?
Your down payment was used to purchase the property and was paid directly to the seller. You don't get it back.
What if a car is repossessed in error?
Take your papers down to the dealership and discuss it. Unless they picked up the wrong car, it is likely you missed a payment or so.
Can you get your car back if you gave your car as a down payment?
No.
How long after your car is repossessed can you get finacing for another vehicle without a large down payment or going to a buy here pay here place?
This question can not be answered in months, days and hours, it depends on several things. How much do you consider LARGE,ect. how well you do at rebuilding your credit rating, how well you know the loan officer. Could be 6 months or 6 years.
If you signed all the paper but did not make the down payment can you back out of the car deal?
If you signed all the papers but did not make the down payment, can you back out of the car deal? No, once you sign the paper you are locked in. If you back out you will take a credit hit.
Where can you get a loan to buy back your car that was repossessed?
Mike, that depends on how great your credit is. A repo on your record is NOT going to help. Any interest rate you get will be HIGH because of your credit rating. With a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck
