Repossession

It is called Containment.

The short answer is yes. When you co-sign on a loan "YOU" are guaranteeing that if the 1st doesn't pay, you will.

As whether to co-sign for someone is a very personal decision based on many facters; daughter, son, brother sister, real good friend, etc. In my 6 years selling cars I found in almost all cases that family and friends were the first to screw you. BTW!

In the case of my own daughter, I refused to co-sign for her. She was angry at me!!! Then, as I new she would, filed Bankrupcy at 23 years old. She is now 34 and still hasn't shown responsibilty for her debts. For the end of the story, I bought her a van for $5000 and drove it from Pensacola, FL to Madison Wisconsin and flipped her the keys and said," It's gift, now get a job."

Just be dead sure of someones ability AND perpensity to pay. These 2 words are very different from one another.

Hope this helped

Paul

Yes it should, but don't leave it up to the CRA, get a letter from the BANK and send copy to CRA and they should remove the negative entry, if not ask the bank to update to the CRA to delete the trade line

Contact your local law enforcement, and report it as stolen.

Anyone can sue but they will probably not prevail without evidence it was intentionally misrepresented.

12

No! its not the dealerships fault.!>!!>!:)>)>)

Sure thing, the only thing they can't do is go inside a locked garage or barn, or fencing.

LEGALLY, you can't repossess anything from the owner. Once that person signed the title, its half theirs. you will have to take him/her to court with probable cause, or convince them to sign away ownership. Good luck

No, after your car has been repossessed you're banned from ever driving, looking at or even being within 5 miles of a car again. If you are, then it is only a matter of time before the federal repo bureau finds out.

well, if you sold the car and the dude never paid for it, you could. and when the cops show up, which they will because he'll try to say it was his and you stole it, tell them everything, and be able to give proof that the car was yours, such as a registration card or insurance, etc. without such you will most likely be incarserated.

To get this information you need to do a vehicle history report like Carfax.

No

If you can try using car leasing calculator to make things work for you by using this calculator you can consider car leasing; it is the process of allowing the consumers to pay for a certain period of time and for only limited allowance for the mile coverage. The first thing that one needs to consider in terms of car leasing is to check the person's standing about his or her credit.

Chick Hicks

When you dont pay your payments on something

Two things to consider here:

First, the cosigner is an equal owner of the vehicle regardless of whether or not any payment has been made by him. This is a matter of contract law.

Second, and typically in cases where payments are not current, the cosigner/co-owner can take possession of the vehicle to protect his credit if his intention is to surrender the unit or to make payments current.

Yes. The primary and the cosigner are equal owners of the vehicle. If all things are equal, and the loan is current, and one of the contract parties takes possession of the vehicle over the other, it is a civil matter and must be decided by a judge.

You may not be able to. If your car is under warranty, then they'll be obliged to try to correct the problem(s) the vehicle is having. One thing you need to look into is whether or not your state has a "lemon law", and, if it does, whether or not your situation fits the criteria described in the "lemon law". If it does, then you'll have legal options open to you.

No. They can repossess their collateral (the car which was repossessed), and they can send a collection agency to hound you for money, but they can't confiscate your property.

They can not reposes a car that is already paid for, in which bank already released the title to the consumer, nevertheless the trustee may or may not liquidate the car and salvage some funds to pay some of the creditors. This is all based on depending your assets and liabilities each individuals case is completely different. You may need to call for legal advise. CA residents contact for free consultation 213 223 2085.

Please Note that nothing in this positing or other constitute legal advice. Bankruptcy may be very complex issue depending on each consumers circumstances.

It depends on the policy of the finance company. I used to work in the auto finance business, and the companies that I worked for would not do it because there was no reason to. Technically speaking, the co-signer is fully liable for the loan, just like the primary signer, so whose name appeared first on the contract had nothing to do with anything.

if you auction the car off and it sells for less you owe the lender you must pay the differenceif it sells for more then you owe the lender nothing

A jet is a type of engine that powers many aircraft and does not have anything to do with airplane size.

No