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I have a big problem I hope somebody can help me, about a month ago the the finance company took my can because I was late with my payment for a week, also because they never received the proof of my insurance that I gave to the dealer and they where supposed to send it, I don't think they where supposed to take the car because my other payments where always on time and there was that confusion with the insurance, now they said that if I want to get it back I have to pay for the repossesion and they payments that I haven't made, what can I do?

2006-07-11 08:59:39 · 7 answers · asked by flacodf 4 in Cars & Transportation Buying & Selling

The name of the financial Institution is WestLake Financial.

2006-07-11 09:12:11 · update #1

7 answers

There is nothing you can do but redeem with the finance company, catch up the payments and pay the fees cuz if you dont thats a repo on your credit and take it from me (I work for an auto finance company) you don't want that. It will be Buy here pay here cars for the next 7 years for you.

2006-07-11 13:27:54 · answer #1 · answered by scottncincy2000 2 · 0 0

You didn't make a payment and you're upset that the finance company took your ride? Are you nuts? That's the way that it works! You no pay, you no ride! Very simple, really!

So what if you made the other payments on time? That was those payments. You have to make ALL of the payments on time in order to keep your ride! Miss a payment and you walk. Pretty simple really!

It's not the dealer's responsibility to get the proof of insurance to the finance company. You are responsible for that. You should have followed up to make sure that they got it, and brought them another copy if they didn't get it.

So, now you have to make up the missed payments, and pay the repo charges to get you car back, just like they said. That's the answer to your question! Why are you asking us? They told you what you have to do! Nobody here can tell you otherwise! So get off your butt and bring them their $$$ and get your car back!

And if it's been a month, the finance company is going to sell off your car very soon and then bill you for the shortage. Yes, if they sell it and don't get enough to pay off your note you're going to have to pay them some more and you won't even have your ride! So get moving before it's too late!

2006-07-11 09:57:44 · answer #2 · answered by Bostonian In MO 7 · 0 0

Westlake financial is a sub-prime lender, so they will be more strict on how far they let a payment get behind. Although it is uncommon for a lender to reposess a car if you are only one week late, it is not illegal. Your insurance issue probably has something to do with this. Your dealer did send your insurance to Westlake. Westlake does not fund a dealer on a contract without proof of insurance. Fincance companies require you to maintain full coverage insurance on a financed car. If for some reason that coverage lapses or is not maintained, they will add "forced placed" insurance to your loan. (This is very expensive by the way) If this is what happened, and you continued paying your normal payment, (and not the extra amount for the forced placed insurance) then they are probably showing you delinquent for all the months where you paid your car payment but not the forced placed insurance amount. This would make your account much more delinquent than one week.

You need to contact your insurance company immediately to get proof that you did have full coverage insurance for the full term of your car loan to date. Provide Westlake with this proof immediately, and they will remove their forced placed insurance. If this does indeed make you current for those delinquent months, you have a case to request that they allow you to redeem your vehicle without the excess charges. If for some reason, this proof cannot be provided, then your only choice is to redeem for the requested amount. (Delinquent balance, late fees, and repo fee)

Make sure to pay your payment on time in the future. Stay in contact with the finance company if there are any issues like insurance. Even on accounts that are more delinquent than one week, finance companies don't normally reposess a car unless they have a hard time reaching you.

2006-07-11 10:08:16 · answer #3 · answered by Betty&James 4 · 0 0

The Loan company is not allowed by law to reposs the car until you are 3 months behind. Once you are behind they can pick it up on the 90th day. Go to the dealer and see if they sent it in which they should have. Might check into getting an attorney some states you will need them to go to small claims court to help you. I had same situation a year ago the loan company had to give me back my car and gave me a receipt for paid in full. Had a friend had same problem they had to pay him $39.00 a day that they had it because thats what it would have cost him to rent a car or get someone to take him around

2006-07-11 09:07:31 · answer #4 · answered by Anonymous · 0 0

Are you sure you were only a week late on your payment? Do you have proof that the company cashed your deposit or did the dealer lose the payment as well? If you have all of your paper work in order, call up the company and make copies of everything. If you're still stuck, call the Better Business Bureau.
http://www.bbb.org/

2006-07-11 09:11:53 · answer #5 · answered by a 4 · 0 0

Start paying your bill and keeping insurance on the car. You are lucky, in KS you must pay the entire bill in full to get the car back. To do that (unless you have the cash) you can file chapter 13 bankruptcy.
So you know... just having insurance isn't enough. Your insurance company needs to list the finance company as payee in case of loss. When you do that, the insurance company keeps the finance company informed as to your insurance status.

Good Luck

2006-07-11 09:09:20 · answer #6 · answered by ubet426 4 · 0 0

NO the in ordinary words element they could take is what they have a lien antagonistic to. If no individual else's call is on the identify, regardless of the indisputable fact that the registered proprietor, than there aren't any liens antagonistic to that automobile and no individual can contact it... now, the law enforcement officials ought to nevertheless impound it for some site visitors offense, yet, it extremely is a distinct remember.

2016-11-06 05:34:05 · answer #7 · answered by ? 4 · 0 0

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