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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

Can both the bank and repo man charge retaking storage repair and sales expenses when you bring your payments current and pick up the car?

"both" the bank and repo man?? NOT that I am aware of.

retaking, REPO??? usually charged by lender storage, USUALLY charged by repo co. repair (NOT normally done), sales expenses WHAT did who "SELL"??? READ YOUR CONTRACT. It should govern what you pay to whom.

What happen to northwestern dodge.The car ealership thatwas located in ferndale michingan?

I like to know myself. I have been asking around. It seems to be a mystery.The economy is very very very bad in Michigan right now. The prices of gas are rising everyday and truck sales are suffering because of it. Northwestern might of had to bail out because they sold two trucks that people just are not buying,the NITRO and the DURANGO. It is a mystery to me too. I will keep checking around.

Business and sold a guy a car he took the car and never paid Can i repo his car and how do i go about doing that?

First: no, you may not "repo" the car, because you do not have a "security interest" and "security agreement" which gives you permission to do that.

Second: if the buyer "took the car" without paying, it could be a criminal offense (theft, theft by deception, etc) and you can file a police report and let them get it back for you.

Third: if the buyer simply didn't make the payments as agreed, and you don't have a repo right in your loan agreement, and they won't give the car back voluntarily, then you must seek permission of a court (judge) to request the local constable/sheriff/police to take the car back and return it to you as a breach of contract, or as fraud, or whatever your lawyer tells you your facts will support as a claim.

Attempting to "repo" a car without an agreement is called "self-help" and will get you arrested if not shot and sued. Of course, you have a counterclaim for the value of the car that was taken from you and any expenses it costs you to get it back.

If a person signs as a co-signer on a car or truck can they take there name off of it if the primary owner will not allow it?

Yes, after the loan is totally paid off, but not before. Get a lien release from the lender. Once you have the lien release, there is really no need to get a new title just to remove the cosigner's name.

Another Perspective

The procedure may vary from state to state but generally: If the loan cosigner's name is also on the vehicle's Certificate of Title they must sign the title over to the primary borrower when the loan is paid off. Then the owner must bring the certificate to the DMV to have it reissued in the owner's sole name. Check the DMV rules in your state.

Your car breakdown who should you call to tow your car in Dubai?

Hi,

You can ring Middle East Star Automobile Recovery on 04-2712558 or 0502045208. They provide Breakdown Recovery, Automobile Towing in Dubai / Sharjah UAE Untied ARab Emirates, Tow service to GCC, Oman, Qatar, Bahrain, Saudi Arabia at very reasonable price.

How can you stop a repo?

The #1 best way to stop a repo is to PAY YOUR NOTES or make arrangements with the LENDER. The lenders starts the repo, they stop the repo.

Pay your bill.

Can you be sued for the remaining balance of a voluntary repo even if they haven't sold the vehicle yet and all the dealer finance company did was relocate it to one of their other locations?

yes. even though you gave it up you are in breach of contract. the main purpose was to sell that vehicle and not have to turn around and sale it again. the depreciation of a vehicle drop about 3,000 when it leaves a dealers parking lot. they have to continue to make payments on it since you can't do it anymore. they pay for shipment, insurance on their cars just incase someone breaks into them and tries to steal the radios, etc. while parked on the lots. they have to fix up the vehicle if its repoed, that cost money. they have mechanics they have to pay and other employees-repo people as well. they have to pay taxes up front on every single vehicle and business taxes are a lot higher than individual taxes. they have to pay a registration fee on every vehicle. it ain't cheap. Spare me ..... if the banks lost money or the car dealers lost money guess what?? they won't do it!!!!!

How long before they can repossess you car in Virginia?

The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.

If a car is financed in the husbands name but rewarded to the wife and she gives the car back is there a way to make the wife pay for the car?

The person in possession of the car would most likely be the one paying the installment loan, unless the payments are seen as part of support or alimony. Consult your divorce attorney for information regarding your particular situation.

Is sales puffery legal?

The law allows what is known as sales puffery. This is an emphasis on subjective qualities, such as that a car is beautiful and will make you feel good, or that a high-fat food tastes good without mentioning the health risks of excess fat.

If you made a car payment for a friend facing repo and who ended up in jail is there any way to recoup the money from the bank in return for the car?

The laws on this will vary by state, but the chances are unlikely that the bank would be legally required to return the money to you. You will need to look to your friend to get your money back.

Is the candle making business in Nashville TN profitable?

Yes, I have consulted many of these light manufacturing\ retail operations in the past. Research the competition in your home town, buy your products such as wicks and wax in bulk, and then manufacture your candles in the garage of your own home. Research marketing techniques and pricing for your product........ and that's all you need. Average unit yield in terms of profit is $10-12 dollars.

What is the maximum automobile repossession fee that can be charged in Texas?

Some states have set maximum amounts for repossession fees. The state of Texas,. however has not set a maximum amount on the fee that can be charged for a car repossession.

If a car dealer sold me a car and lost the lien holder what rights do you have can you keep the car its been over 30 days and no one to pay?

This may vary from state to state, and I don't know what you meant by "lost the lienholder", so I'm kind of guessing here.

Most of the time, the contract will say that the dealer will arrange for financing for you at a particular rate specified in the contract, and if they can't, they have some (short) window of time to notify you of the changes.

Dealers generally arrange financing right away and get a pretty firm commitment from the financing company, but once in a while things do go south later, especially on used cars, and the terms change.

When the dealer contacts you with the updated terms, you will need to either go back in and sign a new contract, or return the car to the dealer. You don't have a lot of wiggle room here if they did notify you.

If they didn't notify you, though... at 30 days, it's too late for them to change it. They MUST finance the car at the rate specified by the contract, even if the dealership has to do it themselves.

What will probably happen in practice is that they'll threaten to repossess the car if you don't come in and sign the new contract or return the car. And if you talk to a lawyer, you'll probably be told that a court will do exactly bupkis about this until the dealership actually does repossess the car, and then you'll have to sue them.

The bottom line is: talk to the dealership and try to work it out.

Can you still get evicted if you file chapter 13?

Temporarily. There are some ways to discharge past rent and stay in your apartment - consult an attorney.

Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.