I sell cars. The answer is yes though unlikely. However if they do they will charge you recovery fees. Storage fees and admin fees. Is there any way you can pay? They will put a 7 year black mark on you record. If you can't pay you Gould offer to voluntary terminate the contract meaning car goes not questions asked and no defaults
Yes - if the car loan was with the dealer, the dealer can sue the debtor for the balance of the car loan after the car is sold to someone else.
Yes
A car dealer can hold a repo as long as he is the lien holder on the title.
No, if the car does not have a lien, then the dealer has no legal interest in it.I'm not sure why a dealer would even try to repo something they had no legal interest in.
They are not lying to you. A repo is a repo is a repo.
IF the dealer is acting as the banks agent(hired to repo), YES.IF you bought the car from that dealer, the dealer may have had "recourse" on the loan, so that he/she had to do the dirty work if you didnt pay. $124.00 is not the main question, how LONG has the $124.00 been in default??
YES, a lender can get a judgment for the balance owing on a loan after repo.
NO, but you can get it repaired. Do you have any proof that it was the repo that damaged it?
Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.
yes
Yup ... until the debt is paid, the dealer owns the car outright - they have the title afterall which prevents the car from being sold.
Absolutely, and in most cases it will be!