Repossession

If you do not own the vehicle they base it off the equity of the car. The link below provides a good resource for this and other questions you may have regarding title loans. You can refer to #11 for the answer to your question.

https://www.cash1loans.com/frequently-asked-questions.aspx#faq-1249-16

Yes you can.

it helps your toy or what ever go faster

call the LIENHOLDER and ask. Clue?? were you behind on the notes or in default in any way? Or if you're standing in the parking lot, looking for your car you "Know I Parked right Here." Call the local Law Enforcement. Usually when it's repo'd, the agent that took it calls the county dept and let's them know it's been taken and from where. That way when you call in telling them it was stolen, they can inform you otherwise, as well as cover their own if anything were to happen to them or it.

Pay off the remaining balance of the loan. Make sure you have a receipt or put on the check, "Endorsment acknowledges payment in full."

Hi, I was just having the same discussion the other day. On a serious note though, in most cases your answer is yes...but only after a certain amount of time. then there are those other times that there are certain instances in which the car can not be retitled (and those vary from vehicle to vehicle, in vast variety of things) Best I could do for you GL.

Well, if it is old and don't run, they probably wouldn't make any money, likely LOSE more money, by repoing it. Sooo, they tell you to keep the old broke donw jalopy and get a judgment against you for the balance owed,ect. You are stuck with a car with NO title, nothing worth selling. But they will VERIFY that it is broke down and worthless. They wont just take your word for it. Good Luck

Probably not. Niether would GM or Hyundai. I boufght a 94 Exel in 1994. I began to fall behind in payments in August 1998. By then my vehicle was indeed running but in such bad shape that it would probably have not been worth it. My muffler was damages, no air conditioning, bald tires, one was a doughnut, the brakes were in poor shape, one front light no longer worked, exterior was scratched and a few minor dents as well. Hyundai was trying to call me day after day 5 times a day. I wound up with all 10 numbers that Hyundai called from on call block. I was unemployed so they did not know where I worked. Still in January of 1999 I still made no payments but found a job in December.

In February they called me finally (from a number they called from that they just added that was not on call block). I told them I finally had money and I could pay an additional 50 dollars a month to my 130 dollar a month car payment. They accepted. I then stated to them that I was surprised I did not get any repossession letters.

They stated "We don't warn of repossesions...then people would hide their cars and skip town and never pay". I then said that I was surprised they did not get my car. They stated "We did begin to repossess but your car was in such bad shape that we decided not to bother after the repo man took a glance at your car."

By June I caught up on my payments and by January of 2000 I was paid up. I was reported as delinquent until 2002.I eventually in 2000 did have to fix the muffler and brakes plus I found fixing the air conditioning was as simple as a fuse. I kept the car until 2002.

Never done this one, but it's common. Make sure yall trade info. Know their finance company and make sure your finance company knows theirs. Call, talk to some at your finance company/bank an they should be able to help you, or if you want to remain anonymous, just ask a different finance company/banker and they should have someone there who might could help you explore your options more thoroughly. Remember... "it don't mean nothin 'till ya sign it on the dotted line"

The Certificate of Title did not transfer the car to you because it was not notarized. Make a copy and keep the original in a safe place for now. (Eventually you will need to contact the RMV to see what you should do with the signed but un-notarized Certificate. The Certificate has been invalidated since it was not properly executed.)

The car is part of your friend's estate. His estate must be probated in order for his family to acquire the legal power to sign the car over to you. You should contact the family to see if they will sign the car over to you legally. If they're not warm to that idea then you will need to file a claim against the estate if one has been filed. If no estate is filed then you need to consult with an attorney who can review the situation and determine what your options are.

Repossession agents go to great length to make sure they are repossessing the correct vehicle. Plate numbers, make and model, year of model and especially VIN are cross checked against the lending agencies records from the date of sale to ensure the vehicle being repossessed is correct.

In theory, if a repossession agent took the wrong vehicle it would be up to the rightful owner of that vehicle to decide if they wanted to press charges or not. If it was a honest mistake and there was no malice aforethought; their might be a fine and the business license of the repossession agent could be in serious jeopardy, but a mistake such as you ask about is so exceedingly rare.

When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in any way, your creditor may have the right to repossess your car. Talking with Your Creditor

It is easier to try to prevent a vehicle repossession from taking place than to dispute it afterward. Contact your creditor when you realize you'll be late with a payment. Many creditors will work with you if they believe you'll be able to pay soon, even if slightly late. Sometimes you may be able to negotiate a delay in your payment or a revised schedule of payments. If you reach an agreement to modify your original contract, get it in writing to avoid questions later. Still, your creditor may refuse to accept late payments or make other changes in your contract and may demand that you return the car. By voluntarily agreeing to a repossession, you may reduce your creditor's expenses, which you would be responsible for paying. Remember that even if you return the car voluntarily, you're responsible for paying any deficiency on your credit or lease contract, and your creditor still may report the late payments and/or repossession on your credit report. Seizing the Car

In many states, your creditor has legal authority to seize your vehicle as soon as you default on your loan or lease. Because state laws differ, read your contract to find out what constitutes a "default." In most states, failing to make a payment on time or to meet your other contractual responsibilities are considered defaults. In some states, creditors are allowed on your property to seize your car without letting you know in advance. But creditors aren't usually allowed to "breach the peace" in connection with repossession. In some states, removing your car from a closed garage without your permission may constitute a breach of the peace. Creditors who breach the peace in seizing your car may have to pay you if they harm you or your property. A creditor usually can't keep or sell any personal property found inside. State laws also may require your creditor to use reasonable care to prevent others from removing your property from the repossessed car. If you find that your creditor can't account for articles left in your car, talk to an attorney about whether your state offers a right to compensation. Selling the Car

Once your creditor has repossessed your car, they may decide to sell it in either a public or private sale. In some states, your creditor must let you know what will happen to the car. For example, if a creditor chooses to sell the car at public auction, state law may require that the creditor tells you the date of the sale so that you can attend and participate in the bidding. If the vehicle is to be sold privately, you may have a right to know the date it will be sold. In either of these circumstances, you may be entitled to buy back the vehicle by paying the full amount you owe, plus any expenses connected with its repossession (such as storage and preparation for sale). In some states, the law allows you to reinstate your contract by paying the amount you owe, as well as repossession and related expenses (such as attorney fees). If you reclaim your car, you must make your payments on time and meet the terms of your reinstated or renegotiated contract to avoid another repossession. The creditor must sell a repossessed car in a "commercially reasonable manner" - according to standard custom in a particular business or an established market. The sale price might not be the highest possible price - or even what you may consider a good price. But a sale price far below fair market value may indicate that the sale was not commercially reasonable. Paying the Deficiency

A deficiency is any amount you still owe on your contract after your creditor sells the vehicle and applies the amount received to your unpaid obligation. For example, if you owe $2,500 on the car and your creditor sells the car for $1,500, the deficiency is $1,000 plus any other fees you owe under the contract, such as those related to the repossession and early termination of your lease or early payoff of your financing. In most states, a creditor who has followed the proper procedures for repossession and sale is allowed to sue you for a deficiency judgment to collect the remaining amount owed on your credit or lease contract. Depending on your state's law and other factors, if you are sued for a deficiency judgment, you should be notified of the date of the court hearing. This may be your only opportunity to present any legal defense. If your creditor breached the peace when seizing the vehicle or failed to sell the car in a commercially reasonable manner, you may have a legal defense against a deficiency judgment. An attorney will be able to tell you whether you have grounds to contest a deficiency judgment.

For your ex to get the title to a car in his name, you would have had to sign the title as well. If this has already happened, you can try to persuade him to take his name off the title, but outside of this it would take a court to award the ownership of the car to you.

No. There is no "buyers remorse" law for vehicles. If you change your mind 1 minute after driving off the lot, the car is still yours.

They are far from "better" in some areas. They do save about 10% on gas over a similar sized auto. They are not cheaper to operate.

If there's even the slightest doubt in your mind as to the legality of something you're about to do, you can save yourself a lot of trouble by checking with an attorney first.

If someone illegally has your property, it's usually legal for you to reclaim it providing that you don't break any laws in the process. That second part is important, and why I recommend talking to an attorney.

Reposession laws are, basically, what you're describing here. Repo men are allowed to "break into" the car and take it. However, they are not allowed to break into a garage and take the car (even if the garage isn't actually locked), or to commit criminal trespass.

Repossessed cars can be purchased directly from Banks and Credit Unions. Many larger Banks and Credit Unions will simply send the vehicles off to "dealer only" auctions, but most of the smaller Banks and Credit Unions will offer these vehicles for sale on their websites to the general public. If you view the "related links" section on this page there is a website which is a free repo finder tool that lists direct links to Credit Union repossession across America. You can browse local repossessions in your area and then contact the individual Banks and Credit Unions about purchasing the vehicles.

Why would they report it stolen?? IF it was stolen from you, then YOU would report it stolen. The lender loaned MONEY so they will recover money(garnishment, leins, ect.) if the collateral disappears.

They will eventually find where you are working and you will pay for not only the car but court fees. Do yourself a favor and give the car up it's not yours.

If you 'returned" it as in "I dont want this car anymore and I am NOT gonna give you a chance to repair it", then it was a vol repo. If it was towed in for repair and you never came back to get it from the repair shop, then it was a repo. If you havent paid any payments on the contract you signed, it was a 1st payment DEFAULT and a repo.Unless you got the lender to agree to a clause in the contract that said"if the car breaks down, I DONT have to pay", then it is a repo. Did I miss anything?

thats your knock sensor

ESC is Electronic Spark Control which governs timing.

Tell the dealership to give you your old car back and any money you gave them then you will give them their car back.You might want to consult an attorney.

there is also no bill of sale on it.

If it has recalls you can take it to a new car dealer for that make and have the recalls completed at no charge.

The coil generates the high voltage charge which is then distributed to the spark plugs by the rotor arm in the distributor cap.

It depends from bank to bank. It may have around 10-20 pages in most cases.

In this scenario "the trade in value" itself will pay off your outstanding debt of $5000, regardless of the "dealer incentive". The column should look like this:

Price, 20,000.00 New car Less 2,000.00 Discount Less 5,000.00 Dlr. Inctv. Less 5,000.00 Trade Value add 5,000.00 Money Owed add Aplicable Tax

Hope it is not too late :)