Topic: Repossessed Cars
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Answers to Common Questions
What Happens When a Car is Repossessed?
When a car is repossessed it is because the person who had the car stop making their monthly payments, which cause the finance company to collect the pass due amount. When a car is repossessed the finance company try to collect payment, or ... Read More »
Source: http://answers.ask.com/Business/Finance/what_happens_when_a_car_i...
How to Buy a Repossessed Car
If you're in the market for a used car, someone else's financial misfortune could turn into a spectacular deal for you. Most auto loan companies try to re-sell the cars they repossess in order to recoup their losses. If they sell the car fo... Read More »
Source: http://www.ehow.com/how_2228088_buy-repossessed-car.html
How to Deal with a Car Repossession
If you finance a car, it is by law the property of the financial institution until you have made all payments on the vehicle. If you default on payment, the institution has the right to repossess your car. If this happens to you, there are ... Read More »
Source: http://www.ehow.com/how_2066388_deal-car-repossession.html?ref=fu...
More Common Questions
Answers to Other Common Questions
With job losses and layoffs at their highest in years, car repossessions are on the rise. If you find you are behind on your car payments, this article can give you an idea on what your options may be.
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Source: http://www.ehow.com/how_4714494_avoid-car-repossession.html
If you've defaulted on your car payments, your car loan company has the law on its side. It is perfectly legal for the company to seize your car. Defaulting may be different for each company, so make sure you read your contracts carefully. ...
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Source: http://www.ehow.com/how_5471824_handle-car-repossession.html
The law allows you to repossess a car for late or missed payment on a car loan. There are few limits on how or when you can repossess a car, but you must obey the law.
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Source: http://www.ehow.com/how_16620_repossess-car.html?ref=Track2&utm_s...
When you skip a series of car payments, your vehicle will be repossessed by either your dealership (if you bought the car without a loan) or your crediting institution (if you bought the car with a loan). Yet, it is entirely possible to get...
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Source: http://www.ehow.com/how_4855926_refinance-repossessed-car.html
Turning a car in for repossession is known as a voluntary repossession. The alternative to a voluntary repossession is an involuntary repossession, in which the lender tracks you down to repossess a vehicle. Everyone experiences difficult f...
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Source: http://www.ehow.com/how_5412592_return-car-repossession.html
The first thing you must do is report the repo to the local Police in the town of which it is taking place. This protects you in case the customer calls Police to say their car is being stolen. The Police will make them aware that it is not...
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Source: http://www.ehow.com/how_5666488_safely-repossess-car.html
Keep a well-detailed record of all interactions with your car financier. This should include dates, times, contacts and most of all what the content of the conversation was, including any promises to pay and visits by bailiffs. You will nee...
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Source: http://www.ehow.com/how_5450883_dispute-car-repossession.html
