Site Map
Categories
- Auction FAQ (2427)
- Auction Videos (1661)
- Auto Auctions (29)
- Car Auctions (67)
- Cars (1056)
- Government Car Auctions (87)
- Repossessed Car Auctions (32)
- Seized Car Auctions (68)
- Useful Articles (3)
Testimonials
"I was looking for a car through AutoTrader, but decided to join Gov-Auctions.org and I bought my new car and saved over $8700"
Client: Frank T. (Buffalo, NY)
Vehicle: 2003 VW Passat
Book Value: $17,789
Purchase Price: $9,050
Savings: $8,739
"Many thanks to your team at Gov-Auctions.org. Your information was current and very helpful. Keep up the good work you guys"
Client: Chris W. (El Cajon, CA)
Vehicle: 2002 Ford Expedition EB
Book Value: $18,944
Purchase Price: $8,000
Savings: $10,944
"I didn't think it was possible to buy a reliable car for under $500. WOW! I own my car for the same price as other people's monthly payment"
Client: Cliff S. (Ft. Worth, TX)
Vehicle: 2002 Hyundai Elantra
Book Value: $9,975
Purchase Price: $475
Savings: $9,500
Find Car Auction
Recent Posts
- Obama’s car up for auction on E bay.
- Bankruptcy Attorney | Milwaukee WI | Ryan M. Landry, Esq.
- 2007 HONDA CIVIC
- Rare American Muscle 1/18 Diecast Collectible Cars Featured at Auction
- Want A New Car? Come to the Philadelphia Public Auto Auction for the Best Prices Around!
- Auctions America – Lee Hartung Collection, Glenview, Illinois, November 3 – 5, 2011
- Rachel gets dunked
- Auto Repossession in NYS?
- Forza 4 My car sells for 20 mill CR on Auction House
- Wrecked to Wild in 24 Hours – Season 1 / Episode 2 / Part 1
Resources
Find Seized Car Auctions Near You
Know Where To Buy Your Dream Car For A Low Price!
Whether It Is A Mercedes, BMW, Honda, SUVs, Trucks...
Drive Your Dream Car For 90% Below Retail Prices!
Start Looking For Your Dream Car Now!
repossessed car. My rights?
23rd April 2010
I lost my job 2 months back and have been unable to make my car payments . i have 4 moths of outstanding car payment. My car was repossessed yesterday and the loan company said that I would have to pay the full balance which is 000, in order to get my car back. They also said that there was absolutely no other way for me to get my car backl.I do not have 12000 dollars. I am stressed out. I would like to know my rights . I live in Maryland.
Posted in: Auction FAQ | | Comments (3)
3 Comments »
RSS feed for comments on this post. TrackBack URL
Your rights are what is stated in the contract you signed. You defaulted on the loan, and the lender exercised their legal right to recover their property. You don’t have a car to drive and you owe the outstanding loan balance. You agreed to all this when you signed the paperwork and bought a car using someone else’s money.
Comment by Scott H — April 23, 2010 @ 9:02 am
You have the right to pay off the loan, plus repo & storage fees and get the car back.
Oftentimes lenders will allow someone to get the car back by paying the amount past due plus repo & storage fees but if you don’t have a job, they may not offer that to you.
What will happen after so long is they will auction off the car and you will owe the balance less proceeds at auction. And they can come after you for that via future wage garnishment or such.
Oh, and you MIGHT have the right to retrieve any personal contents that were left in the car. But, you might have to pay storage fees.
Comment by N — April 23, 2010 @ 9:02 am
Sorry, when you defaulted on the contract, you forfeited your rights to the vehicle.
The lending company owns the property, so they can do whatever they want with the vehicle. Legally, they did not have to offer it back to you under any conditions.
What happens next is that they will sell it at auction for a lot less than you could have sold it for and subtract that total from the loan. Then, they tack on the repossession fees and storage fees and send you a bill for you to pay in full.
If you don’t pay it in full or work out a payment arrangement, they sue you, you lose, you have a judgement filed against you and your wages will be garnished until the loan is satisfied. .
Comment by Stupid Flanders — April 23, 2010 @ 9:02 am