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

If you signed all of the papers and do not drive the car off of the lot can you back out of the deal if you find that it isn't as good the dealer said in Minnesota?

In Texas there is no grace period, but if you do not sign the posession paper and take ownership you can escape.AnswerYou can back out of the deal... Most states allow up to 24 hours for a return policy. If you didn't drive the car off the lot, you never completely took ownership...

Careful, the car dealer will tell you that you own it and that's it! They're lying!

What does totaled car mean?

Usually it means that the cost of returning the vehicle to street-legal running condition would be higher than the cost of replacement (vehicle value when wrecked). Once a car is declared totaled it may not legally be registered and driven, and is supposed to be salvaged for parts.

Is the lender or repossessor required to notify the borrower before taking the vehicle?

It isn't needed for them to inform you. It depends on the Repo company really. Your loan bank, or "lender" pays to have your car repossessed, gives you a chance to buy it back for the either the amount that you owe (plus maybe a delinquency fee), otherwise the lender will give it to a dealership to sell it. If it doesn't sell at the dealership, the dealership CAN give it back to the lending bank, in which case they will put it up for auction somewhere.

So, they SHOULD notify you, but they CAN just take your car and wait for YOU to contact THEM to pay your amount before the try to get their money back for the car they paid for. But if you have some Jerk company the might not notify you and just try to sell the car immediatly.

Sorry, about your situation, but I hope that helped. I hope you didnt owe taxes because that is a whole other story!

-NeoMikeTx

If you purchase a car and then you change your mind what are your options?

What a dilemma. If there is nothing wrong with the vehicle, and you simply have just changed your mind this is what car dealerships call a "cooling off period". It's usually posted on signs throughout the dealership that there is a "No Cooling Off Period" policy. This may mean that you are stuck with the car.

However, a professional sales manager may be able to work with you just days after the purchase to help you find the perfect car for you - of their on-site inventory. Once papers are signed and financing is in place, it's near impossible to cancel the transaction.

Lastly, some dealerships and auto makers offer a 1,000 mile 'test drive' with an opportunity to return the car risk-free.

Best advice, speak to the sales manager at the dealership about your options.

California has just such a 'cooling off period.' If only the citizenry would rally for a fight with their individual states for a right that they should possess, the laws could be changed. Bug the hell out of all of your government officials until this issue is before the people of the state. This is how many used-cars dealers snooker good and honest people like yourselves, and every state seems to be on the side of the crooked car dealer. UNFAIR! Let's band together and stop this nonsense. You can return a toaster, but not a car that you were lied to about? I was sold a rebuilt Ford with screws missing, but I had no say in the matter once I drove off the lot, this is evil, and it must be stopped.

When will a car rental be reported stolen for overdue payments?

Every car Rentals company have their own rules so there is no exact time limit but you must pay their rent at time. Otherwise they are free to take a legal action against you.

How much time does a buyer have to return a car to it's seller. I bought a used car from a private party 4 hours later the car engine seized.?

You cannot just return a car to the seller. There is no cooling off period on the sale of a vehicle. In your situation you can call the seller and ask for your money back, or ask the seller to repair the vehicle. If the seller refuses, your only recourse is to sue the seller in court. If you bought this car "AS IS" and there was no implied or written warranty then you will have to prove in court that the seller knew the engine was about to lock up. You must prove that the car was not serviceable on the day you bought it and the seller knew it. Get a written statement to that fact from 2 mechanics and that will strengthen your case. Otherwise you will probably loose on a car you bought "AS IS'.

Where is the car sheriff from the movie car?

The sheriff is a 1949 Mercury Eight Police Car. As it was only an animated car it is not real and it located only in the movie.

What level of water will ruin a typical car's engine in a flood?

It's not water in the engine that kills a car, it's water in the electrical system. Enough water to submerge any part of the electrical system is enough to cause headaches. If the water was above the starter motor (Which is usually the lowest electrical device) you will have problems. The above is not strictly true. Modern cars have a tendency to have their air intakes fairly low down, near the front spoiler/air dam. This is a high-pressure area and so the engine gets a little 'Forced' induction help from this high pressure air. My car, for instance, has it's air intake only about 13" (32cm) above ground level, behind a grille. If you enter a deep patch of water then water will be sucked into the engine. From your school physics/science lessons, you will remember that water is incompressible. If water enters the engine cylinder, the upward moving cylinder on the compression stroke will meet an immoveable object (the water). At best, you will blow a head gasket, damage a piston, con-rod or valves. At worst (and I have seen it happen, albeit in a diesel) you will blow the entire cylinder head off the engine. Phil

Can a car that a husband used as collateral to buy a van that was repossessed be seized by the lender if the car was awarded to the wife when the couple divorced?

You will have to take it up with the bank who repossessed the van. Since the car belongs to you, they should not be able to take it away from you. The laws may vary state-by-state. Talk to your divorce attorney to be sure you are protected. * Legally the vehicle could be seized if a deficiency remains after the repossessed van has been sold. This is possible because the transaction was made during the marriage and terms included in a divorce have no bearing on valid lending agreements.

Can you go to jail if you hide your car from repo man?

if its not yours and you keep it it is stealing. stealing a car is grand theft auto. yes, you will go to jail for it. it is a felony.

What are the procedures you should follow for securing your vehicle once you have stopped?

turn wheels towards curb ( if parked on hill facing downward)

turn wheels away from curb (if parked on hill rear facing downward)

place gearshift lever in "P" Park if automatic transmission

place gearshift lever in Reverse is std. transmission

set parking brake

turn ignition off

remove key

Can a repo man knock on your door when trying to repo your car that's not there?

Yes, they can knock on your and attempt to contact you.

what the lastest time they can do that

What is the Default door code for 2001 mountaineer?

Each vehicle equipped with keyless entry has its own individual factory door code.... However that five digit code is printed on the computer which is located in the same compartment as the jack in the rear of the vehicle. there will be a white rectangular computer module in there with the code printed on it which is not easy to see. you may have stick a flash light in there to see it but its there.

How do you unhook a car battery?

you need a 1/2 in wrench, then you loosen the bolts on the negative battery cable, and remove the connector from the post and do the same for the positive side

Answer 2Most modern cars no longer use ½ inch bolts on battery cables. Both our Chevy and Honda need a 10mm (or is it 11mm?) wrench to remove the battery cables.

What happens if the item is not available for repossession?

theyll take you to court and youll have to pay for the repossesed item thatbelongs to them i would advise you not to get anything you will not
be able to afford

Does 'pure price' means non-negotiable in regard to buying a new car?

No. There is no such thing as a non negotiable car price. Some "no haggle" dealers would like you to think that, but as soon as you turn around to walk out the door, the haggle begins.

Hope this helped.

Can a bank in Tennessee issue a warrant for your arrest for being 3 months late on your payment?

No, its a civil matter, not criminal so don't let a repo person or ANYONE else tell you anything different.

Can a dealer wait to tell you a car is salvaged while you are signing the contracts and not while he was selling it?

Just stop signing. His timing is far from perfect but I suppose he is relying on your feelings of ownership and hoping for you to be reluctant to back out. Hope you did!

Trending Questions
Can you search by license plate number to see if a car is wanted for repossession in Texas? Can you repossess a car you sold? When insuring a commercial truck does the person insuring the truck have to have a CDL? Why have your name on a car title? Can you be arested for Stealing own vehicle from impound lot Indiana? If yourFather dies and the car loan is in his name can the family turn the car over to the bank and will they be held liable for the remaining balance and will it effect their credit rating? What can you do if the bank denied the loan for a new car which a contract was signed? Marrying an illegal fake id is it void? Can a credit union refuse to release the title of a car reaffirmed AFTER it is paid off because you filed bankruptcy and were discharged for other loans with the credit union? In Florida can repo men be charged with theft? What happens if the car was totaled in an accident and money was still owed? If a car title is in two peoples names who has the right to sell it? In North Carolina can a repo man repo your car from a repair shop with a bill that is still owed? What are the repossession laws in Colorado? What can you do if you are struggling to make car payments and are 30 days behind and you did have a co-signer but you can't afford the payments anymore? What happens if you hide your car from repossession? Can you get compensation for major custom work done on a financed vehicle that has been repossessed? Consequences for theft over 300.00 in Kentucky? What do you do when someone wrongfully accuses you of hitting their parked car? Can you keep money that is accidentally deposited in your account?