You have entered into a loan agreement. This is a legal document that binds you to repay the loan. You cannot return the car as the cooling off period law does not apply to the purchase of autos, and cannot get out of this agreement.
YES.
An auto loan is a secured loan. A lien on the car helps the lessen the risk for the lender.
Yes providing an order has been signed by a judge.
Yes, if you signed the contract that included it in the language.
It is called a note.
promissory note
It starts when the loan agreement is signed by the Borrower and Lender. At that point the contract is in effect.
It is up to the lender. You signed a legal agreement to pay the loan back monthly at a set rate. Anything less, and you leave yourself open to having the car repossessed. Set down with the lender and work this out.
Collateral
HSBC Finance decided to sell their auto loan department to reduce their activity but they still continue to uphelp previously signed contracts.
If you signed the loan documents without reading them and later learned that you were on the loan alone, there is very little you can do. Your should have read before signing. If the loan was changed after you signed the documents, someone must have forged your signature on the altered documents. Then the loan is fraudulent. You may have to involve the police and go to court, however.
Sure ... as it is not YOUR car ... you are not the OWNER of the car ... the loan company OWNS the car outright. If you do not pay for something that you buy on time, the loan company has every right to take it back. You see, they hold the owners title on the car, so it is theirs to take away if one does not make the payments anymore.