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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
What will happen if the cadilatic convert gets plug up and you keep driving the car?
If my cadilatic converter is plug up and I keep driving my car what will happen to my engin will any thing brake
Yes.
Is there a online site to see if you owe money to the state?
There may or may not be a website that allows a person to see whether or not they owe money to the state. The best thing to do would be to go to the local tax assessor's office to see if anything is owed to them or owed to the person.
Can vehicle registration be denied if you are behind on payments?
The repo man will tell you that, but no it is not true.
What the procedure for getting your car back after being repossessed?
Contact the lender who repossessed the car. You will have to make up all back payments and pay all fees associated with the actual repossession.
How do i find out if a car as still got finance still owing on it?
You must be aware of a vehicle's finance status before making a purchase. In the case where a car has outstanding finance and the person responsible for the debt defaults on their loan after you've bought the vehicle, the finance provider can seek to repossess it from you.
Although you can't inherit the loan of the debtor, you would risk being at the total loss of the money paid for the vehicle. So through full car check at car analytics website, you can get the financial details for your car.
Will car fax tell you previous owners name?
No it does not give previous owners personal information.
Can a buy here pay here car dealer have you arrested if you stop making payments in tn?
No you cannot be arrested for stopping paymentsto any car dealer, they can and will come get the car, however.
Can the dealership keep keys to my car?
They can, but they don't really need to. They can make keys for the car by looking up its VIN and seeing what key pattern is associated with it. For that matter, most people who repossess cars are only briefly slowed by not having keys.
Yes, but my bank will charge me for stopping the stop, anyways...
Does a car have to be fully insured if it's paid off?
No. Just have to meet your state's minimum requirements
Why do car dealerships offer voluntary repos if you still have to pay?
The "voluntary repossession" allows the purchaser who has defaulted the loan to avoid having to pay a repossession fee of a few to several hundred dollars. That is the ONLY advantage to the purchaser.
The dealership has the vehicle back in it's possession and can unload it at an auction without having to pay a repossession fee to a repossession agent (because the purchaser "voluntarily" surrendered the vehicle).
Once a car is repossessed, voluntary or not, it is (at least in most states) sent to an auction to be sold and the proceeds applied to the outstanding debt of the borrower.
Usually, there are specialized auction houses dealing solely, or nearly solely with repossessed vehicles and the vehicles NEVER (that I'm aware of) bring anywhere close to the amount of the loan.
This is true because first, it is (1) a dealer only wholesale auction, (2) the vehicle is a "repo" and (3) the "retail" price previously paid by the purchaser/borrower is an amount greatly inflated over and above the actual "wholesale value" of the vehicle.
Can you have the finance in one name and the car be register to another person?
We signed the papers to finance a truck for my son. If I remember correctly, it was registered in his name, but we paid the bill. It has been a long time ago.
What is the statute of limitations in Georgia for repossession of a vehicle?
I don't think there is a statute of limitation on repossession of a vehicle anywhere as long as there is an overdue payment outstanding.
Is it illegal to take a car up for repo to another state?
It's a felony.
While I actually DO NOT know, I find it to seem highly unlikely to be a felony or a misdemeanor in ANY state because it is an entirely CIVIL matter under contract law; in other words WHERE IS THE CRIME? (failure to fulfill a contract obligation?)
What is a reserved bid at a car auction?
maybe you mean reserved price at a car auction? The seller set the reserve price he wants to really sell his car. The Buyers bid on that car till they achieve that reserve price. If the Buyer doesn't achieve the reserve price the car is not sold. It will be sold only if the reserve price is reached or higher.
Can a car be repossessed at another location?
I assume you mean other than your home address. But the answer is yes, it can be repossessed anywhere, provided they are not breaking and entering, such as a locked garage....
Is it legal to put stop payment o a check?
Yes. It is perfectly legal for the person who issued the check to put a stop payment on it. However, if the check was issued to pay for some goods or services offered by someone or for a loan, the receiving entity also has a legal claim and hence can file a police complaint against you for not making the payment. So, you need to talk to the person to whom you gave the check to settle the amount amicably before you issue the stop payment.
Can a paid off car be seized for debt?
In some cases yes. If the vehicle was purchased using the same lender against whom you have defaulted with a different loan, and there is a remaining balance after the repossession of that property, then the court can order a Conversion of Collateral, and the paid off vehicle can be repossessed by that lender.
Additionally, if the court chooses, real property can be ordered liquidated to pay a bad debt.
