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ok what happend was i bought my vehicle in 2007 and it was under my name but a year later it got stolen.. i had full coverage insurance which was under my parents name and i wasnt on the insurance. so the car was covered if my parents were the ones driving it and i wouldnt be if i was driving it.. so now it got stolen and i was the last person to drive it.. insurance doesnt want to pay.. the police found the car and took it to the impound.. i didnt have money to take the car out and they said it was totaled and i couldnt afford the damages..i contacted the lien holder they couldnt do anything.. i couldnt pay for it there was nothing i could of done….so i disputed with the insurance company but they would not cover me.. and now my credit has a repo on it.. my car was sold at the auction by the lien holder.. so what can i do or can i even do anything to take the repo off and fix my credit.. before the repo i actually had very good well average credit .. thanks for reading i know its a lot but im trying to buy a house with my parents and my credits in the way.. .

My car loan is from a local used car dealership and the due date was today. After 30+ payments so far… I have never been late on a payment until today. Just 2 hours after the close of the dealership they came and repossessed my car. I live in North carolina by the way. My contract states that DEFAULT status doesn’t occur until 10 days after the due date if no payment has been made and no where else does it say otherwise. Was the dealership in the right to repo my car just 2 hours after the closing of their doors? There wasn’t even any warning they were coming either.
I’ve checked with 911 and it was reported to them as a repo. NC requires repo men to call in what they are repoing in case the vehicle is reported as stolen. That way the sheffifs dept. knows already that it isn’t stolen. The dealership is one of these buy here / pay here type places that actually isn’t in the car business anymore (but runs a different type of business now… computer repair to be exact) and I’m the last client they have who owes them money on a loan. I’m just trying to get a good heads up now because it’s too late to contact an attornery tonight and want to be a little better prepared for when i do call in the morning.
As far as other possible reasons for them to repo… full coverage insurance has been maintaned since day 1, no alterations or damages have been made to the car, no attempts to re-sell the car with or without their foreknowledge. In all honesty I believe these people did this out of spite due to the fact that I too run a computer repair business that is growing while there’s is dwindling. But an attoney’s paralegal said this morning… they didn’t have the right to repo so soon.

The Explorer has less than 21k miles and is in great condition. It’s certified used by Ford but has worse gas mileage than the Edge.

The Edge has 18k mi, but the CARFAX report shows an accident and damage to the front of the vehicle. No damage is apparent upon inspection of the car, but the extent of the damage is uncertain. I like the design of the Edge, but am reluctant due to uncertain damages.

Thoughts?

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