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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
How can you buy a car in different state?
You just go to the other state and buy it, they will provide you with a title and then when you take it back to your home state, the BMV will inspect the VIN number, next you go to the title office and get the title transferred into your home state, and that is it.
What do th numbers on the back of cars mean?
It's the vehicle license number so a police officer can track it to see who owns it and if another officer has stopped the vehicle before.
You request it from the DMV of the state you have it registered in. If they haven't received notification from the lienholder, then you need to contact the lienholder and have them rectify this.
What the law code 3712 on abandoned vehicle on city streets?
You will have to check the law for your specific city. Law code numbers vary because laws are written at different times in different cities.
When towing a car will the odometer reflect the towed miles as mileage on the car?
YES as long as the drive wheels rotate while the car is being towed.
The front wheel drive cars are towed with the front wheels off the ground. Rear wheel cars are towed with the rear wheels off the ground. No mileage can be accumulatd on the odometer with the drive wheels up in the air. Most wreckers are flat bed anyway, so the car is just "sitting" there during transit.
It depends on how you tow it. If you have all 4 wheels rolling on the ground while your moving it you WILL accumulate miles. But if you tow it with the wheels that drive the car off the ground like on one of those U-HAUL car movers you WON'T accumulate miles.
MOST cars built since the late '80s have electric speedometers. They will not register any miles as long as the ignition is turned off, even if they are towed with all four wheels on the ground. They will also register positive mileage when being driven in reverse.
The odometer generally operates based on the number of driveshaft rotations generated by the transmission. If the car is in neutral, the transmission is not generating the driveshaft rotations, and the odometer will not register the miles.
>>>>>>>>>>>> LWARRANTY's UPDATE TO ABOVE STATEMENT - ASE master mechanic - owner / operator two full service repair centers - fourty five years in the trade, enough certifications to fill a dump truck...
The above statement is INCORRECT notably - "If the car is in neutral, the transmission is not generating the driveshaft rotations" - additionally - "YES as long as the drive wheels rotate while the car is being towed". In traditional vehicles the shafts be it cv axle OR drive shaft still spins if drive wheels are on the ground rotating (excluding locking hubs 4x4 transfer case etc), neutral is an integral part of the transmission, it does not disengage the drive shaft from the wheels or differential in front or rear wheel drive vehicles. Rear wheel drive AND front wheel drive vehicle speed sensors on a major majority of vehicles both electronic AND gear driven are where the drive shaft and/or cv shaft enter the output housing to an output shaft of the transmission - if the drive shaft spins so does the output shaft, if the system is energized the electronic speed sensor will pick up a square wave from speed sensor ring gear on the output shaft and register to the ECM OR in strictly mechanical / gear driven, instead of a speed sensor ring, it has a gear drive surface, while the cable has a driven gear that it mates with - it will drive / spin the cable and roll the odometer system energized or not, additionally in the early migration to electronics the cable driven speedometers could have TWO methods of utilizing the speedometer gear in the output shaft, the cable drives the speedometer gauge and odometer and a hall effect sensor in the instrument cluster OR a speed sensor combined in the adapter where it slides into trans sends a signal to the ECM to report vehicle speed or mileage directly and/or utilizes vss/rpm/abs/wheel speed sensors or combination thereof including algorithm to record mileage.
Bottom line - I will not elaborate further on the methods to transport vehicles, simply responding to the original question - the absolute correct answer could only be determined upon make/model/year/trans type of the vehicle in question - the "fuzzy" answer is contained herein...
>>>> LWARRANTY ORIGINAL STATEMENT
Electronic speedometers will not register unless ignition is on, mechanical speedo's will. It's important to know how to tow your vehicle, towing a vehicle that requires lubrication / cooling to moving components that is supplied by the engine running, slinging or other means, could / will result in costly repairs. When in doubt, if the wheels on the ground are drive wheels, you'll need to get further information. For frequent towing - behind motor home, etc - aftermarket pumps can be installed in trans lines and other options are available IF drive wheels are on the ground and that is your only option. For short towing you can leave engine running in neutral and still lubricate transmissions, however this can raise a fit with ABS and traction control systems on newer cars. When in doubt - double check it out!
If you have a leaky valve in your engine how much would it typically cost to have repaired?
It depends on the engine size, number of valves in the head, and difficulty of head removal. Typical repair procedure is to remove the head, replace all the valves and valve seals. This ensures the best and most dependable repair. I would guess it will run you anywhere between $600.00-$750.00 for a basic 4 cylinder engine; higher performance 4 cylinder engines will cost more. V-6 & V-8 engines usally run higher because they have 2 heads and both need to be done. Ballpark figure $600.00-$1000.00 or more.
Can you keep buying insurance for a repossessed car and drive legally?
IF you mean a car that is being searched for by the lender, YES. You sure can RISK spending the money one day for ins. and watching it be towed away the next. Its your gamble. If you just want insurance to drive any car, I once read that you can get insurance without a car. Ask an insurance agent.
Can you sell a private party car to someone while waiting to receive your title in the mail?
Yes, but they will not get full legal title to the vehicle because you do not have the paperwork to pass it over to them. So for them this is risky!
You can fill out a duplicate title form. Same as a pink slip. Just mark original was lost or stolen As long as the seller completes all necassary signatures with proper information such as address and odometer reading, it is just like filling out a pink slip. Pink slips are over rated and not really a "one of" document.
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Possibly legal, but why aggravate yourself? Most smart buyers are going to turn tail and run away fast when you tell them you don't have the title in hand. Wait the couple of weeks or whatever it takes to be properly prepared to sell.
Can you return your car to the dealership after you signed a contract?
Yes, the dealer can cancel the contract but it is within 10 days of the date on the purchase contract.
What is the process for a private party selling a car in Georgia?
When selling a car in Georgia to a private party, there is a few things you will need. You will need the title of the car, this will be used to sign over the car to the new owner so they will then have ownership of the car. You do not want to sign it over until all payment is accumulated. Once the title is signed over, the buyer has new ownership, and they wouldn't have to finish paying the balance. The second thing you would need is to a bill of sale. You can create one on your own or you can get one from the Georgia Department of Revenue, Motor Vehicle Division that is already drafted. The bill of sale will have the information, (Full name and address) of the buyer and seller, the car details, such as condition and price. The date of sale, and any liens will also be listed on the bill of sale. Both seller and buyer will sign the bill of sale. Make a copy of the bill of sale for the buyer, they will use this to get the new registration.
She can only be taken off the title if SHE signs the title over to him. There is no other way.
If both names are on the title, if name are separated by the word OR that means either can sign title and change the way the names read. If names are separated by the word AND then it requires both signatures to make any changes. If only in her name then she has to sign title. Also if there is a lien holder, there still making payments on it, then typically only the lien holder can authorize the name change on the title.
How does a legal agreement for a property ownership work?
Very well, if it is indeed a legal contract. If it was legally signed and witnessed, notirized, and recorded at the County courthouse - it's legal and binding.
Can a person report a car stolen after he signed over the title?
Nope. A person can't steal something from a person that they don't own in the first place.. especially something that the defendant would have tangible evidence that THEY own.
Depending on how the contract is worded, small claims court may help. If it is just a generic IOU not stating what the loan is for or how it is to be repaid rather than a promissory note, it might not hold up as substantiating evidence.
Can a repo man bang on your door like crazy at 3am and demand your car keys?
yes he has the power and authority to do that
No...it is not legal for anyone to sign your name to a legal document or a check it is still forgery and can be a federal offence
Do motorcycles always have the right of way?
No, motorcycles do not have an automatic right of way. Licensed motorcyclists are subject to the same laws as regular drivers.
Buying a tractor trailier and starting your own trucking buisnees?
First, you really need to get some OTR time as a company driver. Once you've done that, one of the options you might want to consider is a lease-purchase plan through a company. The reason being that, if it doesn't work out for you, you can back out of a lease, and not have to have your truck repossessed. Additionally, you'll have a warranty on that vehicle, whereas, if you go out and buy a used tractor (which you would probably do, starting off), you won't. If you can make it as a lease operator, then you'll have a fair assessment of whether or not you could make it as an owner/operator.
Another thing you should learn before buying your own truck is how to do your own maintenance and repairs. You'll save a lot of money this way - especially at a time when the economy is in a bit of a crunch. Repair bills have sunk many an aspiring owner/operator.
Car title is in two names what happens if one files bankruptcy?
If the loan note is not reaffirmed, the lender may choose to repossess the vehicle once the stay is lifted, unless the car is excluded from the BK and the payments remain current. In the event of default, the other party may reaffirm at any time with the lender. It is a good idea for that party to have possession of the unit though.
Can you re-negotiate buying a car at a lower interest after you have purchased the car?
Yes, however, I'm sure you'll have a very hard time if you'll use the same bank / financing institution. You need to make another finance institution assume the loan. Just take note that you may need to pay off certain pre-termination charges.
When buying a car does the dealer apply for permanent tags or does the buyer?
you do because all they want you to do is get you in a contract so you make the permanent tag
