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

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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 cash for a used vehicle.
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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)

What can you do if the leased car was repossessed with only 2 payments remaining?

The truck was sold by the bank at auction, they then sent us a bill for $5,600.00!!!! This was the balnce of the loan apparently, **NO this is the balance due AFTER deducting what it sold for at auction.and they auctioned the truck for far below it's worth.**REALLY, how much is /was it worth? It was (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)

If you have hidden the car until the payments are current can they still repossess?

Answer . \nAs long as the contract is in default, the lender can repossess the collateral.. Answer . Which would mean no? correct?? If the payments have became current the loan would no longer be in default? I am I right or wrong?\n. \nYou are wrong if the bank has already sent you a "notice (MORE)

If you hide the VIN number can the car still be repossessed?

Answer . \nYes, all ya gotta do is open the door and check the VIN..... Answer . \nRepo men are just not allowed to open a locked door..... Answer . \nWe can and do open the door there is no criminal intent and as long as there is not damage to the car there is no reason to complain. \nAl (MORE)

Are you still going to have to pay the balance if they repossess your car?

Answer . \nYou will pay the difference in what they sell the car for and the balance that is owed on the note. You may also pay the repo fees. Your credit will be ruined for 7 years. Contact the lender ASAP and work this out. They do not want to repo your car and I am sure you do not want to loos (MORE)

If the bank repossess your car do you still have to pay your car payments?

NO but why would they repo if you are making payments. You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other words, let's say you still owe $5000 on your car and the finance (MORE)

Can you buy another car after a repossession?

Answer . \nYes, 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\nthere are no car payment (MORE)

Will you get sued for the money you still owe after your car is repossessed?

If you don't pay the balance of the loan after repossession, the lender can take you to court for the remaining balance or they can charge it off. Neither is a good thing, so it is best to pay the remaining balance as soon as possible. ___________________________________________________ Most vehicl (MORE)

Do you still owe the money for the car if they have repossessed your car?

You would owe any payments not made up until the day the car was taken. So, if you hadn't paid for two months and they took you car, you would owe those two months. The borrower would owe all back payments and penalties plus any difference in the amount of the loan and the amount for which the vehic (MORE)

If your car is repossessed can your wages still be garnished?

Yes, but they must take you to court first for settlement options. Answer In Ohio they must first sell the repo at a public sale. If the vehicle is sold for less than you owe the bank may take you to court and obtain a judgment for the difference. After they win the judgment they can then enforce (MORE)

What can you do if you still have your car but are in repossession in NJ?

The worse thing you can do is hide the car and not talk to the lender. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by (MORE)

When a car is repossessed do you still have to pay for that car?

\n. \nYes. If there is a difference between the value of the vehicle and the balance still owed on the loan, plus applicable fees and interest, it must be paid by the borrower.\n. \nHowever, the actual value of the vehicle may not be the amount that it is sold for even though the lender/seller is (MORE)

If the lender writes off the loan can the car still be repossessed?

Yes, a vehicle is a secured debt and the lender can remain a lien holder even when the loan is charged off due to a default.. A "write/charge off" does not invalidate a debt nor does it relieve the borrower of the obligations of the original contract.. Ans . And more than that...you can expect th (MORE)

Can you still keep your car even if it was repossessed I live in Chicago?

If your car was repossessed, you can't really keep it,since you no longer have it. If you act very quickly (I'm suggest calling the lienholder theinstant you know the car is gone), you might be able to recover itbefore it's sold to someone else. At the very least you shouldexpect to have to mak (MORE)

Do you still have to make payments if you voluntarily repossess your car?

When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in (MORE)

Can you still owe money after a car is repossessed in New Jersey?

Yes, you will owe the deficency plus repossession fees.. When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If (MORE)

If my car is repossessed do I still owe them money?

When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These rights are established by the signed contract and by state law. If your payments are late or you default on your contract in (MORE)

If you are paying half of your car payment can they still repossess it?

My best suggestion is to contact your auto lender, and ask them the procedure for repossesions. Keep in mind that the bank can reposses your vehicle if you are 60 days late on your payments even if you attempt to only make half of your payments. Call them as soon as possible and work out a payment p (MORE)

Do you still have to pay on your repossessed car or what happens?

When you fall behind on your car payments the bank will put out a repo notice, you then have so many days to contact the bank and either make payment arrangements with them to pay back the money you owe, or to pay off your loan in full. If you do not contact the bank, or if it's already been a wh (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)

If you are 2 months behind in your car payment but you are still making payments on the car does the bank have the right to repossess your car?

\nYes, you are in default. Go to the bank and get a modification agreement.. Depends on what your state laws are and what the contract you signed states. In most instances they can repossess it if you miss one payment.. When you finance or lease a vehicle, your creditor holds important rights on t (MORE)

My car got repossess do i still have to pay for it?

when they take your car it go's to a auto auction not in your home town and if it does then you have the right to bid on it. anyway they auction it off and you could be libal for the balance after the auction price. If you knew you were going to lose it and gave it back or called and said come and g (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)

Do you still have to pay on a loan after your car is repossessed?

Yes, provided there is still an outstanding balance after the repossession and resale are completed. This is the case in most situations, due to the added cost of repossession, storage, and transport of the vehicle that will be assessed to you. If it remains unpaid, the lender may (likely will) file (MORE)

If there is a judgment on a repossessed car can you still drive it?

If the car has been repossed, it means the person who borrowed money from a bank to purchase the car has not met his obligation to pay and the car is now owned by that bank. When that bank re-sells that car, the sales amount is sometimes not sufficient to cover the loss to the bank. The bank may the (MORE)

Can you get your leased car out of repossession?

It's not really clear what you mean by "out of repossession". Repossession is an event, not a condition. If you're asking if you can get it back after it's been repossessed, it's at least theoretically possible if you act quickly enough; you should contact the leasing agency and find out what you ne (MORE)

If you have car Repossessed why do you still have to pay for something you haven't got.?

Yes, if the current value of the car is not enough to settle your outstanding loan + any charges that have been added leading up to the repossession. Think of it this way - You borrowed MONEY to get the car. You owe back this MONEY not the car (because the value of the car is going down all (MORE)