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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 other legal options has a car lender if they are unable to locate it to repossess it?
Lawsuit. They will get their money one way or the other. If they can't find the car they may have you arrested for a stolen car.
You paid $10.500 for auto. It went to auction! then it must of been repoed! How much did you owe on auto when it went to auction. the auction paid 10000 & THE COST WAS $17000.
Did they send you a paper showing balance owed to car along with auction sale price. I wouldn't pay another cent to them.
My car got repossess do i still have to pay for it?
when they take your car it go's to a auto auction not in your home town and if it does then you have the right to bid on it. anyway they auction it off and you could be libal for the balance after the auction price. If you knew you were going to lose it and gave it back or called and said come and get it more less you will not pay anything.
What if you want your vehicle repossessed?
I heard if you surrender your car back to the bank the loan is from, they will auction the car to get money back, if they DONT get the whole amount of what you OWE on the car... They will bill you the balance.
T
What is the average car payment in California?
According to Dave Ramsey at daveramsey.com,
Recent statistics show that one-third of car buyers sign up for a six-year loan at an average interest rate of 9.6%. Among these buyers, the average price of the car is just over $26,000. This means that one-third of the cars you see on the road are dragging a $475 payment behind them.
Is it legal for a used car dealership to run your credit more than once without your permission?
Technically, it may be legal depending on the circumstances. A business does not need your express permission to run your credit, but must have a "permissable purpose" for doing so. Credit card companies may re-check your credit to determine continued creditworthiness, car companies can run it several times for several potential lenders, and your employer may run it for background. If the company you are referring to did not have a permissable purpose the second time, it might not be legal.
What is your car loan interest rate How much did you buy your car for and how much is your payment?
10455.00
What is the least amount of cars sold in a month?
I'm pretty sure the record has been around thirty. I think it was in July of 2001. I'm not exactly sure. It depends what kind of car or company your talking about.
What is the back part of the car called?
In England it is galled the boot
In the US it is called the trunk
You could also call it the rear end or the rear bumper.
Can you charge interest on money owed to you?
Under the late payment legislation,if you are in uk,you can.
and here's the link through which you can even calculate how much interest you can charge.
http://www.payontime.co.uk/calculator/statutory.html
Does the credit of the cosigner gets affected if car is not paid?
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
Can your wages be garnished in Texas if you are default n a car loan?
Yes it can if the loan company taKES it to court and gets a judgment against you, then by all means they can take your taxes, pay, etc.
What if you sell your car for less then the loan and still have money to pay back?
i want to pay but he say must pay full..he dont want to discuss but that car i pass to bank already that time i lost my job, so now i want to clear my loan how?
Can a dealership file repo on you if you didn't make a down payment?
If the dealership holds the title (Buy Here, Pay Here) then yes. If the bank you financed it with already has the title and you have your tags, then no. The dealership can, however, place a judgment on you for the amount of the down payment.
This is best answered by referring to the language of your private sales contract.
This is highly dependent on where you are at; States, counties and even cities have their own rules on what you can and cannot do to repossess a vehicle, without a court order. Check with your local City or County Sheriff's office. For example: In Corsicana Texas you can repossess a vehicle from any place, so long as you do not cause property damage, but you must FIRST notify the county sheriff's office of your intent to repossess, and show them the papers needed. By the same token, Lake Cities requires that you do NOT contact them about the repossession until the vehicle is at the storage lot, and then you must fax or send them a copy of the paperwork; all other state rules apply.
So as a general statement, yes they (you) can wait in the public street, stand on the sidewalk (even) and wait for them to make the vehicle accessible (I have followed them to the store, and ganked it while they went inside; I have taken it from their private work parking, and I have even taken one when they went inside to pay for gas (he was nice enough to leave it running, fill it up, and his date in the passengers seat - I told her to get out, she didn't - no charges filed))
Is a writ of possession an eviction?
It is one part of the whole eviction process. The writ is what you give to the Sheriff for the eviction. Then the Sheriff goes to the property and does what they need to according to lawful procedures.
Yes. It is referred to as "upside down" financing.
