answersLogoWhite

0

💰

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 you sell a car to a dealership if you still owe money on the car?

Yes, Because then they would be responsible for taking care and paying for the car.

The slang term "upside down" refers to when you owe more than the car is worth. If you sell a car to anyone (including a dealership) for less than you owe you would be the one responsible for paying the difference. The dealership will verify with the fiance company what payment is required to release the lien.

For example if you owe 10,000 on your car and the dealership will give you 9000, you would have to pay them 1000 to take the car. If you're trading in the car, then the shortage can sometimes be rolled over into the new car purchase.

Do you need a driving license to buy cars at police auction?

No!

You can buy any vehicle you like from a police car auction however you will need a licence to drive the vehicle on public roads.

Either arrange transportation or someone with a licence to remove the vehicle from the police auction

Is there a form giving permission for a repossession of a vehicle?

Well, yes, there is. It is called the loan or finance agreement you signed when you got the loan for the vehicle. When you sign that, you give permission for the bank to repo the vehicle if you don't make the payments. Unless you are talking about a "Voluntary Surrender", if that is what you are talking about, just call your bank and they should have one.

In Pennsylvania can you repossess a car that is titled in your name if the person has made car payments but has several parking tickets that are also in your name?

It depends upon the exact wording of the title of the vehicle and if there is a written contract or a witnessed verbal agreement concerning the terms of the sale. Generally the title holder can recover a vehicle under such conditions. The best option is to obtain legal advice before taking any repossession action.

How much for Scrapping your car?

Very little. You should "donate" it and take the tax benifits. Everyone wins.

If your battery is overheating and you can smell acid what should you do?

Stop driving until the charging system and battery have been checked for an overcharging condition.

Where do the cars with the letter 'I' come from?

Cars displaying the letter "I" come from Italy.
The international vehicle registration code for Italy is 'I'.

Sold a computer to a friend and they were making payments but did not make the last payment Can you take the computer back and just give him his money back?

You could do that, or you could take it back and not give him money back. That is rental fee. Ask the friend how would they like it if you were to do the same thing. A lot depends are your relationship with this person. Will they willingly "give" back the computer? You can't "take" it back. Legally, your only recourse is to sue civilly. Be prepared with all your paperwork showing payments received or not received, copies of receipts written, the whole nine yards. Don't take the law into your own hands.

How can I sell a car for parts without title?

You can take the parts to a scrap yard and sell them. You can list them in your local paper's classified adds. You can pile them in a heap on your driveway or front lawn with a big "For Sale" sign on them.

The problem that you have is that it may not be legal in all jursidictions of the US.

Here's the thing, aside from a few parts with the VIN stamped or cast on them, there is no way to identify what vehicle the parts came from. It could be chancey, but I suspect the law enforcement in your area is no different than anywhere else. They either have bigger fish to fry, or they are distracted by their own desires.

In Texas can you return a used car the day after you bought it?

In Texas, you can return the car within a timely period. It does vary depending upon problems with the vehicle, but not just because you want to. Texas hold a "lemon law" prohibiting sales of vehicles that do not meet state inspection standards.

The great state of Texas has a 3-day "cooling off" period for ANY purchase contract, for ANY reason. You most certainly can return the car and cancel the whole dang deal, if you want to. Most states offer some type of consumer protection, similar to this. Check with your state's Attorney General's office and look for the consumer protection links.

I'm afraid Cindy is wrong: here is the law relating to the "cooling off" period.

The BBB notes that, under both Texas and federal law, there is a "3-day cooling off period" that applies to certain contracts, but not to all contracts. Some important points:

Generally, the 3-day cooling off period applies to contracts signed in the customer's home - not at a company's place of business - for consumer goods worth $25 or more. If this cancellation period applies, it should be stated in the contract. To cancel a contract under this provision, mail a written notice of cancellation by midnight of the third business day after the sale. The written notice does not have to be received by the seller within three business days, but must be postmarked within that time. While a customer may choose to call or fax the seller to notify them of the cancellation, the phone call or fax does not cancel the contract - only the written notice does. The customer does not have to give the company a reason for the cancellation. The seller must refund any deposit or down payment within the time stated by law. While neither the Texas Attorney General's office nor the Federal Trade Commission can provide individual legal advice, both offices offer consumer publications with tips on contracts. Contact the Office of the Attorney General for its publication "Door to Door Sales" at www.oag.state.tx.us, or call 1-800-252-8011. Contact the Federal Trade Commission for Facts for Consumers on the "Cooling Off Rule" at www.ftc.gov.

Can a repossession be legal with no notice if an extension was made on the payment?

Not knowing what state you are in...YES it can. Few states require "notice" if you are referring to "right to cure". None require NOTICE, we are goona repo yo ride. Notice is when they bug you for 60 days wanting to get you to pay, answer the phone, quit pretending its a wrong number,ect. IF you were in default of the contract, they can repo, even ONE day late, IF they want to.

If you gave your son a vehicle and put yourself as a lienholder on the title can you legally repossess it?

Do you have a contract or agreement that says he will repay you? Has he breached that agreement and is he in DEFAULT of it by not paying? If so, yes.

(General rule for the future: Have your child sign a contract for any money you "give" him, like any lender would do.)

How can you check if you bought a stolen car and if you have what do you do?

First of all if you believe you have purchased a stolen vehicle the first thing you need to do is secure the history of the vehicle by obtaining a carfax.com history report, you can do this by using the vehicles vin number, located on the driver's side at the base of the Windshield and dashboard. After you have obtained the history of the vehicle and you still suspect that it may be stolen; make arrangements with a Police Detective from your local Police Department to visit with him regarding this matter. Make sure you bring with you all the documentation that was provided when purchasing the vehicle i.e., you will need the Title, any receipts from the purchase, bank statements reflecting the loan you obtained for the vehicle and a detailed history of all payments made, you will need to provide the tag and registration receipts, current insurance information, and the contact information for the individual you purchased the vehicle from. If it was a cash transaction then you will obviously not have any of the banking information described above. If that is your circumstance then you need to bring the transaction receipt as well as the other items mentioned above. Usually when someone purchases a vehicle without needing to obtain a loan they use a cashier's check or money order and most likely will have to withdrawal the funds from their bank prior to doing this. Under these circumstances you need to visit your bank; speak privately with a personal banker and explain your situation, ask them for any documentation they can provide showing the date and time of the withdrawal and a receipt for the cashier's check or money order you obtained to purchase the vehicle. If you obtained the money order from a separate institution i.e., a Super Markey, Gas Station, etc...Etc... Then you need to visit that location as well and obtain the original Money Order receipt, most likely they will refer you to the company that provides the Money order and from them you will be able to secure a receipt. In the rare case that someone has purchased the vehicle using cash, then you will need to provide some kind of documentation showing when and where you obtained the cash and the money order or cashier's check receipt. I know it seems like a big hassle and I assure you it will be. You will have to provide allot of documentation to prove that you believed you were buying a vehicle legitimately. Carrying auto insurance and updating the tag yearly will help prove your innocence, people usually don't pay TT&L and carry insurance on a vehicle if they stole it or purchased it knowing it was stolen. DO NOT just go into the Police Department and say "I think I bought a stolen vehicle" you will be detained while your vehicle's origin is verified and then if it is stolen you will possibly be arrested and charged until you can provide the above mentioned documentation. Unfortunately as a Detective I have seen this allot and it's a real shame, you work hard to make your payments, you take care of it, love it, and suddenly it's taken away. You will never forget this; it is a life altering experience that will affect all future vehicle purchases from that point forward.

How can a financed car be sold?

You should be sure to get at least what you owe on it. When the buyer pays you, send the payment to the bank, wait for the title, sign it over to the buyer and give him the keys.

When you receive money, be sure to sign a bill of sale (date, vin #, both names, and agreement to sell the car).

How do you get to the back speakers in a 206?

The same as the front speakers - Using a torx screwdriver to undo the screw in the handle and the one or two around the edge of the door card, and then its the same type of clip as on the front to pop out

What can you do if the seller delays producing a car title?

Generally you need to get your money back or sue for fraud. The seller of a vehicle must provide the title. End of story.

If you still owe for a car that was repossessed three years ago can they take your new vehicle that is fully paid for?

Depending on your state, the LENDER can get a JUDGEMENT and attach your "paid for" car(or anything else of value in your name) so when you sell it, they will get paid first.

How can you title a certificate of destruction vehicle?

You usually cannot register a vehicle with a certificate of destruction, due to dangers that may emerge. In fact when you buy such a vehicle the dealer must tell you it cannot be registered in America to avoid any potential I have heard that of states in the south allow such vehicles to be registered, but northern states, such as Michigan, forbid such cars to be registered.

Another option would be to get it retitled as a custom built vehicle. If you replace and/or modify major parts (engine, transmission, frame, etc.), and can provide proof of ownership of the major parts, get the vehicle inspected (usually by the state highway patrol, not an inspection station), you may be able to get a title as a custom built vehicle. The issue is how many changes you must make to get the vehicle to be considered custom built. This will vary from state to state. I would ask your state's DMV or highway patrol what constitutes a custom built vehicle before starting down this path, and if having a previous certificate of destruction would prohibit the use of the major parts.