Because the bank owns the car. The person that financed the car did not pay the bank.
After the car has been registered in someones name.
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.
Contact the bank. You can't sell it without the title.
NO.
Even if you could you would still owe the bank the money they paid for the car.
Technically, you would need to get title to it before you could sell it. If the bank will grant you "salvage" title, perhaps for a cut of the profits (or a dollar), you can fix it, sell it, and split the proceeds with the bank.
When the owner defaults on the loan payments
Car auctions SELL repos for lenders and also pick them up from debtors. Is there any reason for a bank to "TRY" to repo a car??
Probably someones car, especially if it is a really expensive car. Cars will generallly be trickier to clean becaus of the tighter spaces. Carpets can be cleaned easily enough, but I would advise not to vomit in/on either.
Nothing, but my advise to you is that if your bank rupt you should sell the car
When your car is repossessed from the bank, the bank will sell it, usually at an auction. You are responsible for the difference of the selling price and what you owe on the car.
You would be committing a hit-and-run, and be arrested.