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If your strip your car down prior it car being repossessed what will the finance company normally do?
14th November 2009
This is not an Idea I support but I have seen Homes stripped if Cabinetry Appliances and wiring Prior to forclosure and It appears nothing is done to them.
Can my car be repossessed if I had no written agreement?
17th September 2009
I didn’t finance car through a finance company, my friend sold it to me. She said I could pay her whenever I could. I was late on paying. But I have paid last month. She still wants to repo it and not work it out. What can I do?
I had the unfortunate occurence of getting my car repossessed last December. The finance company auctioned?
24th July 2009
off my car and then sent me a letter with the remaining balance of 00 and change that I owe. Now, a few months later, I am getting a bill from some law firm saying that I owe over ,000. How is this possible? Has this ever happened to you before, and if so, what does it mean? I want to protect myself from fraud, and of course I am going to call to investigate, but I want to hear from someone who has experienced this.
Be Wary Of These Car Credit traps
12th July 2009
If you’re looking for a new car, then you’re in luck: now has never been a better time to pick up a new vehicle, as bankrupt car manufacturers are looking to move their surplus stock off of the lot. Needless to say, it’s a buyer’s market out there! If you’re looking to choose a new vehicle with car finance, however, you’ll need to be wary of the many “deals” that are out there today.
Like with most deals, some of them sound too good to be true! Here are the most regular offers that dealers are using to entice customers in, and why you should run away from them:
Buy One, Get One Free. So what’s the deal with this deal? By purchasing one vehicle, dealers will throw in another for free. It might be a great option for those larger families who could use the second car; however, be careful before you sign the contract. You won’t get a choice in the second car, and dealers are likely to force a large SUV onto you, which is one of the most unpopular cars on the market. Additionally, that second car isn’t exactly free: dealers will tack on hidden fees to ensure that they’re getting something for their troubles. If you’re buying that first vehicle with car credit, you’ll be stuck with a loan at a higher interest rate to cover the hidden costs of your “free” second car.
Low-Interest Car Credit. Dealers are now looking to entice buyers into their dealerships with the promise of low-interest rate loans. Sounds like a great deal, right? Don’t get excited just yet: often, you’ll need a stellar credit history in order to take advantage of these great car credit deals. Besides, these attractive loans are often only available with certain models. If you have another car on your mind that’s not covered by this deal, then you’re out of luck. To get the best financing deal, get competitive offers from your bank or credit union before you approach the dealer. This way, you’ll be sure to get car credit at a competitive interest rate.
Drive Off The Lot. Many dealers are promising potential customers that they’ll be approved for car credit on the spot, meaning they can drive off of the lot that day. Yet if you peruse through the fine print, you’ll see that the terms of the loan can change – and you might see your interest rates go up only a few weeks later.
To avoid this sneaky trap, be sure to get another loan offer from a third-party lender before you approach your dealership for car credit financing. Don’t forget: never let your dealer know that you’re looking to drive off of the lot with your dream car. You want to have all of the power in your negotiations!
Can the auto dealership where I I bought vehicle repossess my car if my payment goes to finance co?
10th July 2009
I financed a used vehicle from a car lot and paid in cash a total of 00.00 for a down payment to the dealer. The total price of vehicle was 00.00. The remaining balance of 00.00 was financed through a loan company/bank. My first payment due gave me a 10 day grace period from date due, and a late charge owed if paid after that. Three days after grace period the dealership towed my vehicle. The finance company knows nothing and says dealer has vehicle, but dealership says finance co. has vehicle. Two days no answers from either party. What do I do? Is this legal? Please help legally. Thank you. How do I get personal belongings back imediately that I have in car?




