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How do you pay back the loan company after your car has been repossessed?
Wiki User
∙ 8y ago
nan, it depends on what you and the LENDER agree on. You agreed to pay them so much a month before and didnt manage to do it, sooo they will be tougher the next time around.
I got a different loan to pay off the first loan, the interest was a little higher, but I figured I would still owe the first lender the difference of what the car was sold at at action. (Car was worth 16k, they would prob auction for 10-12k.) I would be held liable for the differnce. I would still be out a few thousand dollars, but at least this way I would have a car.
Wiki User
∙ 8y ago
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Can the bank come back to you for the difference of the loan after the car has been repossessed and auctioned?
yes they can...but it also depends on state laws too
In New York State does a car loan company have the right after a car has been repossessed to freeze and over draft your bank account?
You need to read your loan agreement very carefully you may have given them that right.
You had an auto loan with Chrysler Financial and they sold your car to another company because you were behind on payments Now your car has been repossessed Can you get your car back?
YES YOU CAN BUT THERE IS A SHORT TIME FRAME TO RECOVER IT AND YOU MUST BRING THE ACCT CURRENT FIRST.
Can your car be repossessed on a title loan after gone into collections?
Yes, your car can be repossessed if the title loan is in collections. Actually, this is one of the most common ways for a defaulted title loan to be settled.
If your car is damaged while it is being repossessed who is liable for the damages the loan company or the repossession company?
The LENDER is responsible for every detail of a repossession. They may pass the costs of repair on to the repo company.
Why has your vehicle been repossessed if you are up to date on all title loan payments?
Call the loan company and ask them. If you are up to date on your loan you have a case against them.
How can you find out where your repossed vehicle is being auctioned at Too try an buy it back?
Bank or loan company who repossessed it.
Can your driver's license be suspended for not paying the balance of a loan after the vehicle was repossessed?
No. Absolutely not. Your driver's license cannot be suspended for not paying a loan or the balance of a loan, repossessed or not even if you get threats from the loan company.
If you have a car repossessed can the loan company keep you from receiving a tax refund?
Yes.
If your car was repossessed and you paid the loan off do you get the title?
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
Can a cosigner have a car repossessed if the loan has been in arrears?
yes
Can the bank come back to you for the difference of the loan after the car has been repossessed and auctioned?
yes they can...but it also depends on state laws too
Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
Do you have to pay the whole vehicle off if it is repossessed?
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
In New York State does a car loan company have the right after a car has been repossessed to freeze and over draft your bank account?
You need to read your loan agreement very carefully you may have given them that right.
You had an auto loan with Chrysler Financial and they sold your car to another company because you were behind on payments Now your car has been repossessed Can you get your car back?
YES YOU CAN BUT THERE IS A SHORT TIME FRAME TO RECOVER IT AND YOU MUST BRING THE ACCT CURRENT FIRST.
Can a car be repossessed in California without a lien being placed on the title?
IF the loan is perfected, it can be repossessed. If you have signed a loan contract with the vehicle specified as collateral for that loan, it can be reepossessed if the loan is in default.
