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Can they repossess your car if you've paid for 70 percent of it?
Wiki User
∙ 6y ago
The answer depends on the laws in your state.
- In some states if you don't pay, you lose it.
- In Mississippi, after the bank sells it, they cannot make a profit. They have to send you what's left.
- Not ALL lenders have to return the overage. Some only have to return 85%.
- Yes, they can still repossess your car, but in most states, if you have paid over 65% of the balance of the loan and the original balance was under $5,400.00, they can't sue you for the deficency balance. Most finance companies, if the vehicle is of any value, will repossess it and resell it to recover any losses they may have.
Wiki User
∙ 6y ago
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When a bank repossess someones car?
As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.
Can a finance company repossess a car if more than half has been paid?
They can repossess with any amount owed if unpaid.
My car was in an accident and is still at the body shop which hasn't been paid yet he finance company wants to repossess the car. Can they repo it from the body shop?
Yes, the finance company can repossess the car from the body shop. They would likely wait for the car to be fixed before they repossess the car.
When can a bank repossess someones car?
When the owner defaults on the loan payments
Can a person in Texas repossess a car if she is making payments but is not on the car title and feels that she has already paid enough into the car?
Sure, you just lose the car.
You have paid your car payments but have late fees can they repossess the car?
Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.
You payoff your car but you were behind to payment and they repo your car what you need to do to get your car back?
They don't repossess cars that are paid off. So your best bet is to call them and see if they want to deal with you. Usually, if they've gone to the trouble to repossess it, they won't deal with you.
Can a dealership repossess a car without there ever being a car loan - and down payment made and cashed?
If you have not fully paid for the car, it is not yours. The loan papers allow you to use the car until it is paid for; without the agreement you have nothing.
Can a dealership repossess a car already paid for in full if there is money owed on another car still being paid for?
Read the contract. If the second car is connected to the first, yes. Otherwise, not without a judge signing off.
Can the bank repossess your fathers car after his death?
You need to ask an attorney. In general, for a secured loan (title of the car is the security) if the loan is not paid, the leinholder (the bank) takes back the property they have not been paid for.
Can they come on private property and repossess your car in North Carolina?
It is possible for someone to come onto private property in order to possess your car in North Carolina. If you have not paid you car off, it is never yours until it is paid off.
Is it legal for the finance company to repossess your car for late fees even though the loan is paid in full?
Yes, the loan is not paid in full if there are unpaid lates fees
