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Repossession
Seizure of property bought on credit for which loan payments are not being received. Please note that when asking a car repossession question, it is often useful to include the state that you live in. This will enable people to give you better answers.
11,694 Questions
No, a repo agent cannot legally enter a locked gate without permission from the property owner or without a court order. Trespassing laws generally prohibit unauthorized access to private property, and repo agents must adhere to these laws while attempting to recover collateral. They typically use legal methods to secure the return of the asset, which may include notifying the owner or seeking assistance from law enforcement if necessary.
Can they repo your car if there is another car parked behind it if you are not at home?
Answer 1 (United Kingdom)
They can attempt to. If there is a repossession order against something, then they can legally take that item from your property. However, if a car is blocking that item, it may be difficult. They will ask you politely to move the car. If you are not in then they will wait for you. The richer repossession companies will probably hire an unmarked contractor to stake outside your home in a car and inform them when you arrive back. The richer repossession companies may also have a special crane which they can use to lift the car above the one blocking it and onto the back of their tow truck.
If the repossession company isn't that advanced, then they can get a court order which will order you to comply with the repossession notice. Ignoring a court order will be a criminal offence.
Repo people are not above the law can can be arrested for breaching the peace or other public order offences if they do not comply with local legislation during the repossession. For example, you can tell the repo people to get off your property, and they have to comply, unless they have a court order. If you are late on payments and do plan to pay the company you owe, locking the car in a garage or a friends garage will protect it for a little bit longer, but not forever, as eventually they'll get a court order giving them permission to open that too.
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Answer 2 (United States)
Having been a repossessor, I can tell you first hand that a repossession agent absolutely positively CANNOT so much as even touch a vehicle other than the one they're repossessing - if you ever see repossessors in action, you'll notice they won't so much as lay a hand on the car until they've checked the VIN and verified it's their vehicle. Even if they did have such authority as to be able to get a crane and lift another vehicle (which, again, they CANNOT do), there's only so much the bank is willing to pay in order to reclaim their vehicle, and they're not going to be particularly keen on renting out a crane for $200+ an hour.
But, long and short of it, the repo agents can claim the vehicle on behest of the leinholder because the lienholder is the rightful owner of the vehicle - it's their car. They cannot touch any other vehicles on behest of the lienholder, period. That's breaking and entering, and, if the vehicle has a high enough value, can amount to grand theft charges. Repo agents do not have such authority.
Which isn't to say that there aren't ways to get to your vehicle. If you have a vehicle parked behind it, but the side of it is open and greater than the width of the car, they'll get it.
In the end, you're going to be on the losing end, one way or another. If the repossession agents can't claim it, the finance company can pursue a civil suit. If the cost of the civil suit makes it not worthwhile for them to go to court for the value of the vehicle (which they'll never see, as repossessed cars are typically sold at auction for substantially less than what was owed on the lien), they've got a defaulted car loan on your credit report for seven years.
In the end, it's not worth it. You'll be constantly having to look over your shoulder anywhere you go, you'll have to worry about what that strange sound you heard outside your home in the middle of the night was... better to let it go, work out something with the finance company so you can repair your credit, and move on.
What happens if a Passenger leaves drugs in your car?
If you are alone in the car the legal assumption will be you knew about them at least making you the person in possession and prosecutable for that crime.
What happens if used car salesman sold you a stolen car?
Remember you still have to make the payments!
1st The nice Policeman comes and takes the car away.
2nd The nice Policeman makes you prove you paid for the car (or finaced it) so make sure you keep all that paper.
3rd You call your insurance company and find you are not covered, you still have to try, but you aren't.
4th Once the salesman gets out of his interview with the nice Policeman he wont call you back. So you have to schlep down to the dealership and speak to the sales manager or the "Dealer Principle" and they wont make any commitments. A Reputable Dealer will "Help out the Buyer" once the car is impounded, but they don't have to under the law.
5th The Dealerships insurance company will not payout unless they have written proof that this is a stolen car, that must be provided by the Nice Policeman, so right from point #1 don't make him mad.
6th Once the insurance company has their documentation they will pay out either you or the dealer, if they pay the dealer you will get paid by them.
Shortest possible time for you to get refunded from #1 is 14 days. There was a Fellow in Britsh Columbia, Canada that waited over two years because the Police would not write the letter to the Insurance company due to it being and "On-going" investigation.
Can a mechanic hold your car if you owe for repairs to previous vehicles?
Yes, in most places.
Where I Live (Alberta Canada) a mechanic can "Hold your property" for any debt under the "Mechanics Lein" rules.
He has to be given the property, not take or reposess and a mechanics lein must be filed with the Government. That means if you bring it in to be repaired you have "Entrusted your property" too "him" and that qualifies.
Most jurisdictions in North America have similar or in effect identical rules.
Can a vehicle be reprossed on private property in New Mexico?
While there are some limitations (e.g., "peaceful repossession", can't enter a locked building or cross a locked gate), yes, they can.
What stage represents orders that have been received buy payment has not been made?
The stage that represents orders that have been received but for which payment has not been made is typically referred to as the "Pending" or "Open Order" stage. In this stage, the order is confirmed, but the transaction remains incomplete until payment is processed. This status is crucial for tracking order fulfillment and ensuring that payment is collected before proceeding with shipping or service delivery.
If i take a car without permission and the police tow it do the owners have to pay the fee?
If you take a car without permission and the police tow it the owners do have to pay the fee for the wrecker service and the impound fee.
Why did the repo man not take my car after not answering the door?
Maybe the repo man was after something other than your car. Or, maybe the person was there to serve you with some papers.
How long before you can refinance a car?
You can litterally buy your car and finance it, walk down the street so to speak and refinance imediatly.
How much interest will i pay on a car loan?
that depends on your term and rate. Use excel loan calculator and enter the information and if will give you a estimate.
When can your car be repossessed in california?
In California your car can be taken 1 second after midnight the day after your payment is due.
If you do not comply with one of the requirements of the loan, things like insurance and the like, the car can be taken with out notice.
When can your car be towed in nyc?
Any time you can get a parking ticket, it can be towed
Any time you owe more than $350.00 in parking tickets it can get towed from anywhere.
What happens if you buy a car with outstanding finance?
Before that, you have to know what is outstanding finance. It does not belong to you. It belongs to the owner of the vehicle. So, buying or selling a car having outstanding finance is unlawful anywhere.
Can a car only get repossessed for no insurance?
Absolutely. When you purchase and finance a vehicle you sign a legally binding contract. Perhaps you should read what you sign. The contract states that you agree to carry insurance that includes comprehensive and collision with a maximum deductible of usually $500. If you let your insurance cancel then you have broken the contract and therefore the finance company can reposses the vehicle.
Do you get any money if your house is repossessed?
It will depend on the costs involved. If the sale of the home brings more money than the mortgage, the remainder will go first to cover the costs of the foreclosure. If there is anything left, it will be paid to the holders.
Can a family member take your car if you signed over the title to them for a personal loan?
Yes, if you did not pay back the loan. That is what "signing over" the car is all about.
How can you buy cars that have been repossessed by the lender?
Each lender has their own way of disposing of a repo. Most will sale them at dealer only auctions. You can purse getting a used car dealer licenses from the state you reside and attending these auctions.
What is a normal impound fee when vehicle is impounded?
Impound fees can vary widely depending on the location and the towing company, but they typically range from $100 to $300 for standard vehicles. Additional charges may apply for storage, which can be around $20 to $50 per day. It's important to check local regulations and the specific towing company's policies for accurate fee information.
