Repossession

A repossessed vehicle is sold at auction to repay the lending institution. After the vehicle is sold, any money will be used first to pay the auction company, the repo agency and then all remaining funds will be applied toward the amount due on the loan. If anything is left over, you should get it. If there is a deficit, the bank will contact you to make arrangements for collection of the amount owed. You typically don't get any money "back", but usually end up owing the bank.

As soon as you leave the lot with a new car you have signed for and purchased, it becomes a used car and the value drops immensely. You can try, but you bought the car, and you own it. Unless the dealer financed the car, he has no interest in it any longer except for servicing it. Your only chance is to go back and ask the dealer if he will take the car back. If it is a used car, he possibly might. A new car, I seriously doubt it.

Hi Well, unfortunately, the bodyshop has your car and one way or another you aren't getting it back until somebody pays for it, but I think first you should check your policy and make sure you are covered for whatever happened to put your car in the shop. If it is a new car and there is a loan outstanding on it, then you have to carry full insurance, so you should be covered anyway. You need to talk to your insurance guy and ask him if HE thinks you are covered. If he says yes (which is the only reason I can think of that the insurance would tell you to get an estimate) then ask them why they have not paid for the work and sent the check to the bodyshop as you authorized. Your question is a little confusing but you seem to be saying the insurance told you to take the car in (they usually have a "preferred" body shop with twhom they have a prearranged relationship for cheaper repairs). You took the car for an estimate, which presumably the bodyshop sent to the insurance company. The insurance company MUST have given the shop the OK to do the work because the shop is not going to do work without a guarantee that SOMEONE is going to pay them. In which case, that authorization exists at your insurance company and it has nothing to do with the body shop "forgetting to ask the insurance company if it was ok to do the work" Which brings me back to the top of this answer. If the body shop was decidedmto do work that the insurance company has not authorized them to do, then in a perfect world the shop would have to eat the cost and give you your repaired car. Unfortunately, they are more likely to tell you that they are going to sell your car to try and make up the expense of the repair. DID YOU SIGN ANYTHING TELLING THE BODY SHOP TO GO AHEAD AND DO THE REPAIR regardless of the insurance company's involvement? If you did, you are probably stuck if the insurance company doesn't come through. But go to them first. You pay an insurance company to clean up messes like this if they are liable. If they can't or won't help you, either write the car off or you will have to at least talk to attorney otherwise.

Doubt you will be able to stop it now. If you were late, once then there is the assumption you will be late again, and garnishment gaurantees the payment is made and on time. Sorry, contact the company you owe and talk with them, that will be your only hope I think.

Ask the creditor to send you written verification of the debt including all of their documents after incurring the debt. If the cancellation of the debt is not indicated in their documents, then dispute the debt by providing your written notification of cancellation of the debt to the creditor and if unsuccessful, then dispute the debt with the credit bureaus who will initiate an investigation with the creditor and the credit bureau will usually repond to you in 30 days. If no response from the creditor then it will usually be deleted from your credit report. If the collection harassment continues then ignore it realizing that probably no legal action will be taken against you or you can contact an attorney to contact the creditor. Either pay the debt or file bankruptcy.

The only way that they can legally repo your trailor is if you default on that loan or if you listed the trailor as calateral for the personal loan! if you didnt put the trailor as calateral then no they cant touch it!

You do not want your car repossessed for any reason! it will ruin your credit, you will still have to pay for it once it sells for less than what you owe at auction, and eventually a repossession catches up to you!

What you can do to save your car is contact *CAR HELP USA* tHIS company will lower car payments, lower interest rates, get you current with your auto loan, stop repossession, refinance, and save your car! You will need to act quickly as a volunrarily repossession does not answer ANYTHING!

it depends on the car

no

I just helped a friend do this very thing. They traded a 2006 Outback in for a 1998 Ford Windstar van. They wanted to get out from under the payments. They had equity in the new car, so the deal went down like this: we traded the new car to the dealership, they pay it off and we get the van, out the door, no money out of our pocket. If you have sufficient equity in your newer car, you can even walk out with cash and the car, but look and listen carefully. The dealership will try to get you to pay the "dealer prep fee" that "everyone" pays. I told them no--we have enough equity to cover everything. Hope this helps

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Gap coverage is intended to cover the difference between what the car is worth and what is owed on the car. So if you owe 15,000 on a vehicle that has a value of 12,000, you should be covered.

You cannot simply return it to the dealer. It does not work that way. Unless the dealer is the lien holder, he has nothing to do with the car, which you will find out very quickly if you try to just take it back. You bought the car and took out a loan which you promised to repay when you signed a legal contract to repay the loan plus interest. If you are having financial problems, contact the lender and see if you can work something out. The last thing you want to do is have your car repossessed. If you do then the lender will sell your car for whatever he can get, which is usually wholesale. You will then be responsible for the difference in what the lender sells the car for and the balance left on the loan. You will also be accessed repossession fees. And to add insult to injury, your credit will be ruined for 7 years. The very last resort is to allow your car to be repossessed.

It can be aslong as they have permission to enter the home they cannot enter without permission or they can be arrested for breaking and entry

Make sure that you have proof of full payment for the loan. Then, discuss the issue with them. Perhaps their refusal is for some other reason? If you owe the co-signer money for the car, you will need to pay it back, but be sure that you keep copies of the cancelled checks/money orders you pay with. Another way to solve the issue is you can ask them to put a lien for that amount on the title, but the title will be in your name. When you sell it, a portion of the sales price will be needed to pay off the lien. However, it is their choice as to whether they will do this if you still owe them money.

You must complete an application with the court in order to have a wage garnishment reduced if it causes undue hardship. A wage garnishment can not take more than 25 percent of a person's income.

2 car 20x20, better yet is 24x24

3 car 30w x 24 give or take.

Comment:

20x20 (400 ft2) barely accommodates two of today's cars, and leaves very little room for anything else such as snow blower (for us in the snow belt) or lawnmower. Opening the card doors can even be dangerous. A 20x20 foot print also typically limits you to one garage door.

A 24x24 (576 ft2) garage provides almost 50% more space than 20x20. Accommodates two large cars plus storage, lawn maintenance, snow removal gear, etc..

For a 3-car, a 24' depth is good. A 30' width for 3 cars is nowhere near as bad as 20' for 2 cars, but can still be tight if you need to store other items. Consider 32', 34', and 36' widths. 36' is pretty large; at above 36' width you begin to create a monster.

I work for a vehicle finance company & my job is to order up cars for repossession, set up repo agents to pick up vehicles and to take care of auto auction issues when vehicles are stored at an auction awaiting sale, or have been sold. Well first off you need to call the auction, the repo agent (the person who picked up your vehicle or company) and then also your bank or finance company that the loan was through. Discuss the issue with them & see what can be done or what they want you to do. I have to say that this is a very weird thing to hear about. It is not in the auctions best interest, the repo agent or the financial institution to do anything to a vehicle, and never have I heard of any such thing. Think about it, the auction gets the same amount if the car sells or if it just sits there, the repo agent has done his job so he gets his money, and the financial institution wants their money & wants you to pay for the vehicle and if the car isn't running you may not be able to do that with the cost of repairs and such. I have to say I find it very unlikely that the auction or anyone else that had access to your vehicle would do any such thing......

When you fail to make the car payments. Usually the bank or financial institute that holds the lien will give you fair warning for payment and then they will tow the car if no payments are made.

Without seeing the sales agreement and/or loan agreement, it's impossible to answer your question with any certainty. But assuming that both agreements are fairly standard, boilerplate sorts of things, then here's the basic situation: If your husband, as co-signer, was smart enough to insist on finance insurance on the deal (or if the dealership F&I person was smart enough to sell it with the deal and if neither your grandmother nor your husband opted out of it), then the finance insurance policy will pay-off the car in full just as soon as your husband files a claim and sends the finance insurance company a copy of the death certificate. If, on the other hand, no finance insurance policy was purchased by your grandmother and your husband at the time of contract signing, then your husband must continue making payments (or must sell the car and use the proceeds to pay-off the loan... whichever he prefers). That's what co-signers do: When the principle borrower cannot pay for any reason -- including death -- then the co-signer must honor the contract. If finance insurance pays off the car loan, then the car is free and clear, but it's in her name. Therefore, her estate has possession of the vehicle and neither you nor your husband can simply take it -- especially if she's intestate (had no will). If there is no finance insurance, and your husband, therefore, must pay it off, then even though it's in possession of her estate it's a fairly easy process to show the executor or administrator of her estate that he's now on the hook for the payments as the co-signer and, therefore, the vehicle needs to be conveyed to him so he can either continue making payments on it or sell it or whatever he plans on doing with it. If he sells it, he will not be able to give a free and clear title to it to the buyer until the car loan is satisfied. So if he sells it, he must first call the loan company and get a cash payoff amount. Whatever he sells it for must be equal to or more than the cash payoff amount or he'll end-up paying some cash out of his pocket because by hook or by crook that finance company is getting the cash payoff amount... period. It's probably worth sitting down with an attorney for an hour or so and getting proper legal advice. What happens as far as who has to pay-off the car is pretty straightforward and doesn't really require your talking to an attorney. But you don't want to mess with taking things which belong to her estate until and unless you're legally allowed to. And that's a probate issue -- one worthy of chatting with attorney about, even if only briefly.

The vehicle will be sold at auction, the proceeds will be applied to the loan and to the repo fees, then you will still be responsible for any remaining amount owed to the loan.

not that I know of. like a auto repair ship, you pay what they charge

Yes, you would be wise (and your policy contract requires) to report this to your company so they can investigate, and officially get from the other driver they are not injured and there is no damage. I have seen these types of claims many times come back and 'bite' hard. Two months down the line the insured gets an attorney rep letter, claiming both injury and damages. By that time much evidence can be lost. For your own protection report the claim.