Yup ... until the debt is paid, the dealer owns the car outright - they have the title afterall which prevents the car from being sold.
The bank/finance company. The dealer has already been paid for the vehicle
Yes, if the Lien Holder of the vehicle gives them permission to repo.
YES. Read your contract. Does it call for you to maintain ins???
A dealer can not repo the vehicle. The dealer can howecer sue you to get the down payment money if he can prove you owe it.
lets get the FACTS straight. Heres what I'm seeing. A(person) buys car from (dealer) D.D "co-signs" the loan. A defaults on loan and D repos the car. B(bank)reports repo on A CR. Simple. A had loan in default, got repoed. Repo goes on CR because it happened. WHO did the repo is immaterial. Repo doesnt go on D because D "PIF".
Unfortunately, it doesn't seem as though you really won a car. The lien just means that the bank has interest in the vehicle until the note is paid. Yes, they can repo the car if the not isn't paid.
i know a vehicle that is wanted for repo and i know where it is located but will i get payed for telling them and around how and who do i call ? thanks i really appreciate it
Copart Auto Auction has some repo vehicles. You can check them at http://www.easyexport.us/?a_aid=49e6f684c12b9. It's a dealer auction but you can get an access through one of the official brokers.
As long as you are in default of something you agreed to in the contract, YES.
no cos i aint tellin u u are an idiot find out in a book
Yes. That's the sole cause for repossession, when the payment/s haven't been made.
If you mean to re-possess it. . . yes. If the dealer still holds the title to the car then they are still the lawful owner. ---------- Legal ? How ? As in repo ? Yes, if its not paid as agreed.