Can you buy another car after a repossession?

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Yes, you can. My father did this. The thing is, you get a really high interest rate. You could try to have someone co-sign to get the interest rate down a little. Answer Yes but why would you want too??save your money and buy a used car outright.Then there are no car payments or paying full coverage insurance.Think of the money you will save.
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Where can you buy repossessed cars?

Here is a variety of advice: . If I were you I would check out your county for repossessions to be sold they generally sale for 2/3 of the loan value. . I would NOT buy a car that has been repoed. Simple logic tells me that the driver was NOT doing ANY repairs or even oil changes, before it got (MORE)

Where can you get a loan to buy back your car that was repossessed?

Answer . Mike, that depends on how great your credit is. A repo on your record is NOT going to help. Any interest rate you get will be HIGH because of your credit rating.\nWith a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck.

Can you report another person to the lender for a car repossession?

IF you know which lender to report them to, you can. Doing so is really a GOOD idea because we ALL have to pay so the deadbeats can try to ride for free. Reporting them SAVES them(the debtor) money in the long run cause the lender doesnt have to pay to find them. Some people just dont know when to s (MORE)

Can you ever get another car loan once your car is repossessed?

Sure, you can. The entire sub-prime lending market is waitingfor you. Max legal interest rate, higher DP, its all about you. TheOCC bulletin 2001-6 says: . "The term "subprime" refers to the credit characteristics ofindividual borrowers. Subprime borrowers typically have weakenedcredit histories th (MORE)

Can you keep buying insurance for a repossessed car and drive legally?

IF you mean a car that is being searched for by the lender, YES. You sure can RISK spending the money one day for ins. and watching it be towed away the next. Its your gamble.. If you just want insurance to drive any car, I once read that you can get insurance without a car. Ask an insurance agent. (MORE)

How do you buy a repossessed car?

If you are trying to buy a specific car, you can contact the bankor whoever holds the lien on the vehicle for more information. Youmay also start online with a free directory search for banks andother financial institutions who are selling repossessed cars. There are also other alternatives. You ca (MORE)

Can you buy another car before your car gets repossessed?

O' yea, that is a brilliant idea. If you can afford to buy another car, then you can afford to pay for the one you agreed to pay for. Make the payments on the car you now own, and your problems will disappear. Stop being stupid and trying to work the system. They loaned you money in good faith. You (MORE)

Can a lienholder repossess a car if it is titled to another lienholder?

When there are multiple liens on a car, it is possible for eitherlien holder to repossess it. However, one lien holder is normallyin the first position and the other one is in the second position.The one with his name on the title is normally the one in the firstposition and is the one who gets paid (MORE)

Can you still buy-lease a car after 2 cars repossession?

No. Unless you go to one of the dealers that offer a little box on the dash board that requires payment to run. Total rip off. A repossessed vehicle will stay on your credit record for 7 years. Due the recent economy no one will get you a new car loan or lease. Your best bet is save mnoney and pay c (MORE)

How do I buy a car when you owe on another?

Sometimes a friendly dealer will pay off the other car that you still owe on and take it in trade. If not, you have to make payments on both until they're both paid off. If the dealer takes your other vehicle in trade at a price less than you owe, you are responsible for paying the balance of the pr (MORE)

Is is wise to purchase another car right after having another one repossessed?

Well let's look at this from a logical standpoint. You undoubtedly made a very poor decision on the last car you purchased or you would not have lost it to repossession. You bought way more car than you could actually pay for. Also remember that if this car was repossessed recently, you are going to (MORE)

Where in Western New York can you buy a repossessed car?

First off buying a repossessed car is a horrible idea. You are buying a car that someone could not even make payments on. Do you think they took care of this vehicle? Do you think it was serviced regularly, the oil/filter were changed, and anything else necessary was done. More than likely the car w (MORE)

What is the catch in buying repossessed cars?

The biggest turn-off when buying Repossessed Car: As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the (MORE)

Where can you buy repossessed cars from?

Repossessed cars can be purchased directly from Banks and Credit Unions. Many larger Banks and Credit Unions will simply send the vehicles off to "dealer only" auctions, but most of the smaller Banks and Credit Unions will offer these vehicles for sale on their websites to the general public. If you (MORE)

What is the law for car repossession for a used car at a buy here pay here dealership?

It may vary by state, but car repo (snatch and run) is against the law in Louisiana. If the repo man shows up wanting you to sign some papers, and has a cop sitting close by, don't worry. By law, if you don't sign that piece of paper, they cannot take your car. (The cop and repo guy are friends, or (MORE)

If you are buying the car can you trade it in for another?

You do have a grace period, if it is agreed upon by you and the seller, to return the purchased auto if you are not happy. At least that has been my experience in my own purchases. I have never immediately traded "it" in for another.. I am sure, should you find a willing salesperson, such a transac (MORE)

How can you buy out a leased car when the lease expired and car was repossessed?

When a vehicle gets repossessed it either goes back to the dealer who leased it, or, and more commonly, it is auctioned by the reclamation company. You would need to attend one of these auctions to be able to bid on one, and even then, a lot of times you have to be a licensed dealer to participate (MORE)

Can a buy here pay here car be repossessed?

Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.

Can a car from a separate loan be repossessed if you default on another car loan?

Not as such. The bank can assess your property and sue you for the amount left over after the sale of your repossed automobile. If you owe less than the car is worth(in the case of the non repo'd car) the court can force you to sell it and surrender the equity from the sale. If that car is your on (MORE)

Can a car get repossessed in another state?

in this case, dont worry what the law says, regardless. look at it like this, if you were out driving, and at the red light you were carjacked, and 2 weeks later you went with a few friends across a few state lines, then out of nowhere you saw your car parked, would you as the rightful owner of th (MORE)

Can you repossess your repossessed car?

you can buy it back from the repossess depot thinger yeah but you have to pay all your payments on it The above answer is correct, but does not answer the question actually being asked; i.e., the guy/gal wants to go grab the car from the repo guy or car lot where the repo was delivered to. My ans (MORE)

Does buying a repossessed vehicle raise your car insurance?

In this state buying a repossessed vehicle is no different from buying any other vehicle as far as insurance is concerned. The insurance agent checks over the car, takes pictures, checks the odometer, and quotes the rate just like any other used car. Of course if you have one car and you purchase a (MORE)

Can they repossess your car with you in it?

A valid repossession must not cause an unlawful breach of the peace - even if the debtor is the one instigating the breach. So if the debtor gets into the car, it cannot be repossessed at that time, you'd be kidnapping them essentially. In the USA, this actually happened, the repossession was declar (MORE)

What research should one do before buying repossessed cars?

Before buying repossessed cars, you should first research the frequency of repair and maintenance costs on the models in auto-related consumer magazines. You can also ask for the car's maintenance records from the owner, dealer or repair shop.

Can you buy another car even though is repossessed?

If you have had a car repossessed, you have not kept up with thepayments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford topurchase another car and would not be able to obtain the finance todo so.