After they repossess the vehicle they will sell it for whatever they can get. You are then responsible for the difference in what they sold the car for and the balance owed on the loan. If you do not pay this amount they will take you to court.
Yes because that is what it is.
YES, the contract is what they sue for unless the car is listed as COLLATERAL for the loan. Then they repo the car and sue ya.
No! its not the dealerships fault.!>!!>!:)>)>)
The statute of limitations on a written agreement in Georgia is six years. The date when it starts running may be difficult to determine, but it is possible.
park in a locked garage
This is best answered by referring to the language of your private sales contract.
That type of action would constitute a breach of the peace on behalf of the repo agent. This happened to a woman in California and she won 1.2 mil in a lawsuit against the bank.
Deal with it. You failed to pay that note, the finance company reclaimed their car.
No, they can't, but they can sue you for the value of the car unless you can prove that it was a gift.
they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion
Right now with the bad ecomony banks are willing to work with you on payments including lowering them. I would recomend calling your bank ASAP and explain your situation they WILL work with your if your not a repeat offender.
CAN & WILL. Good Luck