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Not unless the lien holder goes and retrieves it from impound themselves. The reimbursement of government fees (federal, state, or municipal) outweighs the priorities of the lienholder. When a vehicle goes into impound, the agency which impounded the vehicle puts their own lien on it, and that lien takes priority over the original lien. If the vehicle is not retrieved from impound, it will be auctioned off, and the lien holder basically gets shafted in the process. The person who took the lien out on the vehicle will owe the remaining balance still, and one of the money the agency auctioning the vehicle makes will go towards reducing the amount owed to the lien holder. To that end, you're better to let the lien holder repossess the vehicle and auction it, rather than have it impounded.
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How can you lien holder reposses car if car was impounded due to buyer lost drivers license?
As the lien holder of the vehicle, they are contacted by the proper authorities that their asset (the said vehicle) is at an impound lot accuring fees. Because the lien holder is in essence the true owner of the vehicle until the loan is paid off & the lien is released, they have the right to reposses the vehicle from the impound. This is in the best interest of the lien holder because if fees add up, it may not be worth picking up in the end. What many debtors do not realize is that if they do not redeem the vehicle from the lien holder once it is picked up from impound, the vehicle is sold at auction to the higgest bidder & that is in turn applied towards the debtors deficiency balance.
Who owns the vehicle you or the lien holder?
Well, you own the vehicle subject to the lien. You cannot sell or refinance the vehicle until the lien holder is paid. If you don't pay the lien, the lien holder can repossess the vehicle. So you own it subject to your paying the loan.
Can the lien holder take the car form the impound before the 30 day hold is up?
While I am not familiar with this "30 day hold," but the lien holder of a vehicle may take possession of the vehicle at any time after the loan has been defaulted. That is if you the borrower go delinquent on payments, and the vehicle is impounded (potentially for parking violations or excess unpaid tickets), the lien holder will receive notice. Actually they receive notice of impound even if you are not delinquent. If the lien holder pays the outstanding impound and storage fees, they may take possession of the vehicle.
Can a vehicle with a lien on it be impounded and sold?
yup but you still owe the cash
How do you receive a vehicle title that still has a lien?
You can't. If a vehicle has a lien on it the lien holder is the owner of record of the vehicle.
Does the lien holder of a vehicle have the title?
No it does not
Lien holder on your vehicle?
The lien holder is the person or firm, you borrowed the money from to purchase the car.
Can a lien holder file an ins claim on customer's auto policy?
No a lien holder can not file a claim against the insurance company as they are not the named insured, you are. Although if there is a lien on the vehicle the insurance payment for damages to your vehicle will be in your name and the lien holder name. They then might require that you fix the vehicle so they can protect their interest in the vehicle. each lien holder is different. CORRECTION: If the lien holder is named on the policy and the vehicle has been repossessed, the lienholder has a right to recovery under that policy.
Can i Put a lien on a vehicle to get my name on the title?
A person or a company that puts a lien on a vehicle is a "lien holder" that is on the title. It is not recognized as ownership.
How much can a vehicle be sold for once a lien has been secured?
If you have a lien on your vehicle, you can sell it for any amount. The vehicle is still subject to the lien which means that the purchaser can lose the vehicle if the lien holder collects on it.
Can a lien holder stop you from registering your vehicle for tags if you have defaulted on the loan?
They have a vested interest in the vehicle. Their lien can prevent you from registering the vehicle.
How do you add my name as a lien holder to a vehicle?
Take the title to the office where you get your tag at, and take the buyer, and the lien holder and the'll help you.
