If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
If there is a loan against the car then the bank is on the title and they own the car, your name would be on the registration but not on the title, so yes they can repo it. If you have the actual title in hand then their is no loan on it and you own the car.
This is a rerun. IF someone is making paymnst, there is a security interest somewhere. Dont be fooled by the title and the leinholder part. They have a perfected lien on it. Good try, no candy for you.
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
Sure. Just let the bank know where you're moving to and keep up the payments or they'll default the loan and repo the vehicle. (Repossess) That'll cause you serious credit problems and loss of vehicle that you still have to pay for. The bank will track the vehicle by the VIN (Vehicle Identification Number) and you'll end up with more headaches then the car is worth.
If you still owe on the car (whether matured or not), the bank can take it if you don't pay. It belongs to them until the loan is paid and the title is sent to you.
The line to look at is whether there is a Lien on the title naming your bank. If so, even though your name may be on the title, it is not yours.
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
A bank won't release the title to a vehicle until it has been paid in full. This is done to prevent the vehicle from being sold while payments still remain.
Not IF you reaffirmed the loan with the creditor.
The bank can repossess the car if payments are not made.
Yes, if the vehicle was purchased during the marriage it is considered community property.