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A "car dealership" CAN NOT legally repossess a car for any reason unless the are operating as a financial institution (bank/ Lien holder). And they had better be license as a bank if they are. (New York).
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∙ 11y ago
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Can a dealership reposes your car for a downpayment even if you are up to date with the finance company and the finance company paid them already?
No, the dealership cannot repossess your car for a downpayment. However, if there was a downpayment paid, and your check bounced, that's passing bad checks, which depending on the amount of the down payment, could be a felony. Read the fine print on your contract and you'll see that if the car is related to the commission of a felony, it puts you in default, which means the finance company can repossess your car. It's all in the fine print, but dealerships and finance companies are all in business to make money, and they pay people like myself very well to make sure their interests are covered. I'd suggest paying your downpayment.
Bought car from dealership that took care of financing arrangements - All payments timely made old vehicle traded - Dealership now trying to repo says bank did not approve finance What remedy -AZ?
Tell the dealership to give you your old car back and any money you gave them then you will give them their car back.You might want to consult an attorney.
Can a dealership repo a car if ther car is financed and they have all the money?
If you have failed to make even one payment on time, even if it's late by only one day, technically they can pursue repossession.
How much does a new Scion tc cost a month?
Its all credit base and downpayment but about 400
Can you get your car after it was repo?
Yes, if you bring your loan up to current, and pay any additional fines & expenses. Making your loan current requires paying all overdue or due payments on the vehicle.
If a person buys a car but the dealership cannot obtain financing and wants the car back will they refund a 2500 dollar downpayment made to them?
Bill, it is NOT up to the dealership to get financing. YOUR CREDIT can be such that NO one can get you financed at any DP, or interest rate. READ your contract closely. It likely covers such a thing happening. A similar scene happened to a friend recently. Yes, the money should be returned b/c without financing, there is no contract. Without the contract, no "deal" has been made.Your car and all monies exchanged should be returned. In his case, the dealership sold his trade in and made more money from it than they gave him for the car. They actually had to pay him more than his car was worth in the first place,which he used for a downpayment on another car. Don't let them trick you into anything. Good Luck
Can you get an apartment with a car repo?
Q:Can you get an apartmet with a car repo? A: All apartments come without a car repo option. Sometimes you can negotiate utilities, however
If the deal has been closed to purchase a new car including the paperwork signed but you haven't paid all of the downpayment what can the dealer do?
The deal said you would pay X $ down but you havent soo, the dealer can either HOLD the car till you do OR repo it. You have NOT held up your end of the deal, right?? Do you expect the lender to just let you ride??? Be Real
Is it hard to get a car once you have a repo?
No, you can always pay cash for something that you can afford, or you can go to the auto dealerships that sell junker used cars with a ridiculously high loan interest rate. Those types plan to repo a car several times and will be all over you if you are a day late for a payment. My advice, take care of your credit history by paying off all present and outstanding loans, start over paying cash for everything and slowly re-estabilish your credit being careful to not overextend yourself.
What do you need to start a repo service in Illinois?
wanting to start a repo service in Illinois and need to know what all is needed?
What all work does ALJ do as part of Toyota's dealership?
It provides dealership, repairs and vehicle advice
Can a car dealership get a repossession company and a constable to repossess your vehicle?
YES, its called 'writ of replevin" and takes days, not months. If the repo-man has the proper documents he/she may take it lawfully WITHOUT POLICE PRESENT. The police usually only attend for a "Keep the Peace" call if the repo-man suspects trouble. The police are usually notified of such a seizure because most people reort the vehicle stolen when they return and find it missing. They repo vehicles all the time. However you could take them to court, becouse it is a denial of "due Process".
