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Can your car get repossessed from the impound lot?In: Repossession |
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Most places cannot repo a car that has another lein on it, such as in your case. You will have to check your local law.
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In ALL states, the storage lot is REQUIRED to notify the OWNER and LEINHOLDER within a certain period of time. Usually 5 days. That way everyones interest is protected.
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It happened to me last week. My car got impounded for expired registration on the 3rd and when I went on the 10th to pick it up they said that the finance company had picked it up the previous day and when I looked at the paperwork the finance company had paid off all debts owed to retrieve the vehicle. WOW!
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In Colorado, the police impound lot has to notify the lein holder that the car is in impound. If the car was already out for repo, we will go down and pay the storage fees on behalf of the lein holder and take the car. Or if it has to be held at the lot (like someone got killed in it) then we can tell them that when it is ready to be released that they dont give it to the owner.
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Yes you can get your car repossessed from the impound lot. My car was stolen with the keys by someone i knew. When the car was found by the police they impounded it because i did not have a copy of the key or the main key. I refused to pay the sales tax because the impund lot charged me almost half of the sales tax. I paid the impound fees and they still refuse to give me the car because the sales tax was not paid for so more lot fees was added, then gmac repossessed the car from the impound. ( saint louis )
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Yes , it can be repossessed if they show they are the lienholder of the vehicle (such as a bank or car lot. They will have to show a repo order and a hold harmless for the city they are picking it up from.I run the imound lot in topeka , ks. I am not giving legal advice so please consult your local laws on this subject
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Depending on why it was impounded like if you're arrested, some lenders/banks will come get it immediately then terminate the agreement for the same reasons insurance companies may cancel your policy... you're deemed an unacceptable risk.
They'll pay towing and storage fees of course.. but almost certainly you'll be out of a vehicle and still have a BALANCE DUE once they sell off the car.
First answer by anonymous. Last edit by ID1136551652. Question popularity: 215 [recommend question]
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