Go to the Dealership Some used car dealers also sell repossessed cars, particularly if the vehicles wereoriginally purchasedthere. Other dealers purchase repossessed vehicles at auction and resell them to customers. This is your best chance of getting a car with at least a limited warranty, particu...
Our guide explains the steps of buying a new car, from choosing how to finance your purchase to getting the right level of insurance for your new car.
Buy the Car Back Some states require lenders send you a notice of the date and location where a repossessed vehicle will be sold. If you can attend the sale -- often an auction -- you could buy the car back. Not all states allow this, but if yours does, you could end up paying l...
If they do, the vehicle will be repossessed, and the money the car buyer has paid on the loan will be forfeited. The car buyer ends up with no car and no money, a financial double whammy. Here are quick tips on car buying after bankruptcy: 1. Repair Your Credit Chapter 7 ...
If you believe your automobile has been wrongfully repossessed, you may file a complaint with the Florida Attorney General’s Office online atwww.myfloridalegal.comor by phone at 1-866-9-NO-SCAM. Additionally, you may file a complaint with the Federal Trade Commission online using their compla...
A car is among the most expensive purchases you'll make in your life, and oftentimes, doing so requires taking out a loan. But if your financial situation changes, your auto loan's monthly payment might not be feasible anymore. Knowing how to get out of a car loan is an important aspec...
Finding out if your car is on a repo list would mean that you have fallen behind on your car loan repayment and are scared that your car will get repossessed or taken from you. In this article, let’s delve into what a car repo is and how to know when your car is on a repo lis...
Being upside down on your car loan is frustrating and can be downright scary. Not only are you continuing to lose money on the car as itdepreciates(or loses value), but you also run the risk of missing payments and having your carrepossessed. ...
Breach of contract, of course, brings the possibility of your car being repossessed. That’s why you always want to ensure the terms and financial circumstances are right to take the loan. A basic rule here is not to buy an expensive vehicle if your budget can’t afford it. If you miss...
they may choose to roll over the loan into a newly extended maturity period. Under those circumstances, the new loan would likely involve additional fees and a higher interest rate. If the borrower continues to be unable to repay the debt, their car may be repossessed and sold by the lender...