You live in Colorado they repo your car with no receipt no location given and charged us interest on top of the late fee for 32 days don't they have to give us 10 days to get it back not seven?

Answer 1

Repossessions are regulated by Colorado Revised Statute 5-5-111. You can refer to the statute by going to the State of Colorado's Web site, selecting the link "Legislature", and then "Colorado Revised Statutes". Vehicle Repossessions If a person is in default of a vehicle loan the lender may repossess the vehicle. The lender must notify a law enforcement agency verbally or in writing that repossession will take place. The lender must provide the law enforcement agency the name of the owner, the name of the repossessor, and the name of the loan holder. Vehicle Sales by Dealers The Motor Vehicle Dealer's Administration handles most complaints against vehicle sales from a dealer. The Dealer's Board will handle complaints alleging there was misrepresentation, improper paperwork, title delays, etc. Please note: you do not have a three-day right to cancel on vehicle purchases, unless the DEALER sells the vehicle at a place other than the regular selling location (example, at a stock or trade show). If you signed the contract you have purchased vehicle unless the dealer agrees to find you financing and is unable to complete the contract. Complaints against a new or used vehicle dealer should be brought to the attention of: Colorado Department of Revenue Motor Vehicle Division 1881 Pierce Street Suite 142 Lakewood, CO 80214 303-205-5744 Sue the lender in court they clearly failed to give notice of any kind.