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If you own two cars and are able to make payments on only one and are letting one get repossessed can the finance company for the repossessed car do anything toward the remaining car?
Wiki User
∙ 17y ago
Possibly yes. They can resale your repossessed car dirt cheap and sue you for the difference in what you owed and what they got for it. Then they can sue you to collect that difference. If they win the suit they can have the sheriff pick up anything you own to sell at public auction to help pay that money they supposedly "lost". It's possible but not real likely. It depends on the mob that runs the finance Company
Wiki User
∙ 17y ago
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Can anyone reposes cars?
Yes, your car can be repossessed by a company if you are behind on payments. However, it has to be a licensed repossess to be able to do this.
Can your car be repossessed by the car dealership if you never gave proof of income?
If you are not making the required payments to the finance company that holds the lean on you car it may be repossessed. Proof of income is not required or relevant.
Can your car be repoed if you have full coverage and you licance is revoked?
You car can usually only be repossessed if you fail to make the payments to your finance company.
Do most finance company allow you to pay the late payments and then continue with the agreed contract if the vehile was repossessed?
If your vehicle has been repossesed then your best option is to no longer make payments until this vehicle has been resold; which takes place through an auction. Once vehicle is sold you will receive a final bill for the remaining amount that was left over. The final stage of this process is to settle for 30% or less on the remaining balance.
My husband died a year ago. Can the finance company repossessed my deceased husband's vehicle although I have been making timely monthly payments?
no
Can a car be repossessed because someone is borrowing it?
I wanted to add to my original question...Our car was repossessed by the finance company because they said they found out someone else was using the car because of car payments being sent from a different address. AND, they stated that they wanted to see the condition of the car. I thought a car would only be repossessed if you were late on payments? I have never heard of this, so I don't know what is going on.
Why has your vehicle been repossessed if you are up to date on all title loan payments?
Call the loan company and ask them. If you are up to date on your loan you have a case against them.
What is the difference between a normal boat and a repossessed boat?
A repossessed boat is a boat that the bank or company has taken back from you because you neglected or were unable to make payments to legally own the boat. A normal boat would be a boat that's owned by a person who's either making the payments on time or already has it paid off.
Can a replacement window be reposessed?
Yes and no it depends on the circumstances. For instance is it to a car or home. Anything can be repossessed if not paid for. Also if not repossessed it will have to be paid for if you're in the wrong and the person or company takes the matter to court.
If my car has been repossessed can I still trade it in for a different vehicle?
No, you no longer have anything to trade (the car is now the property of the repo company not you).
Your car was repossessed with your belongings in it Can you consider them stolen and call the police?
You can. They probably won't do anything. Call the loan company to see where you can get your things or they will mail them to you.
What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?
While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.
