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Can a dealership repo your car for stopping payment or bouncing the downpayment check?
That depends. If this is a car that you've had for a substantial amount of time, and if the dealer has already "cashed" the contract and has been funded from the lienholder, then the answer is no. Once the dealer receives funding for the car from the lienholder, the lienholder is then transferred the title. Only the lienholder can repossess your car for non-payment.
This isn't to say that the auto dealer can't press criminal charges against you, but again, it depends on how long you've had the car. If you just recently bought the car and wrote a bad check for your down payment, you can probably count on getting a letter from the solicitor in your county.
An exception to what I said above is if the dealer has not been funded from the financial instution financing the car. In that case, the dealer can cancel the contract with them and demand that you return the car to them.
Another :Not only can they repo the car they can file charges against you for grand theft auto (because you used fraudulent means to secure a vehicle loan), grand theft (if the check was over $200), uttering of a bad check as well as possibly fraud. Better give the car back or make the check good and FAST!
What else can I help you with?
What would result from having my bank put a stop payment on my check for used car downpayment to Honda dealership even though car financing is through an out of state lending institution?
Stopping a check on a car that has already been signed for is a breach of contract. Doing so will allow the dealership to pursue for costs that were promised to be paid.
Is downpayment one word or two?
"Down payment" is two words.
What is the abbreviation for down payment?
Downpayment is TELEGRPHIC TRANSFER or T.T base
Can a dealership reposes your car for a downpayment even if you are up to date with the finance company and the finance company paid them already?
No, the dealership cannot repossess your car for a downpayment. However, if there was a downpayment paid, and your check bounced, that's passing bad checks, which depending on the amount of the down payment, could be a felony. Read the fine print on your contract and you'll see that if the car is related to the commission of a felony, it puts you in default, which means the finance company can repossess your car. It's all in the fine print, but dealerships and finance companies are all in business to make money, and they pay people like myself very well to make sure their interests are covered. I'd suggest paying your downpayment.
At the end of a car lease do you get your downpayment back?
No, you do not. It's a down payment, not a security deposit.
How much down payment needed for real estate investment in Canada for international investors?
35% downpayment
Can a dealership take back a car due to miss payment?
If you are purchasing an automobile can the dealership file a warrant for your arrest if you miss a payment?
Do you need a down payment to refinance a car loan?
No. Banks may ask but most lenders do not require a downpayment.
Is car down payment is refundable?
No. A downpayment is a nonrefundable form of collateral which is applied to the sale of the vehicle. For example: If a car cost $10,000 and you give a downpayment of 15% ($1,500) you've applied your downpayment to the purchase of the vehicle. If after a few months you no longer wish to own the vehicle, you will still own the principle amount left.
Downpayment on 12000 vehicle at drivetime?
depends on the loan term that you were approved for, as well as your income. The higher your income, the higher payment you can afford, therefore the less down payment you need.
What the monthly payment of Honda CR-V 4wd exl?
Unable to answer - it depends on how much is given as a downpayment - how long the payment terms run for - your credit score - etc - etc.
Can a dealership repo your car for stop payment?
Yes they can.
