payments have been made to the bank
2006-07-26 17:22:05 · 6 answers · asked by Kristy 2 in Cars & Transportation ➔ Other - Cars & Transportation
something the dealership and the bank need to sort out. obviously the dealership ain't getting paid so someone needs to do some directing
2006-07-26 17:25:33 · answer #1 · answered by Anonymous · 5⤊ 1⤋
There could be a delay in the payout payment from the bank to the car dealership. If this is the case, it could put you in the position where the dealership can repo. You need to contact your bank and have them forward the payment information to the dealership. If the bank can prove that they paid out the purchase contract that you had with the dealership, you shouldnt be held responsible for any of the cost associated with the repo. Double check your papers from the bank to see if they paid out in full to dealership, or if they are only forwarding payments. If they are only forwarding payments, make sure that the bank is making the payments on or before the due date. It takes approx 2 business days for the transfer delay. Good Luck
2006-07-27 00:33:34 · answer #2 · answered by bustyboots 2 · 0⤊ 0⤋
no, a car dealership will not repo a car once it has been financed thru a bank or any other finacial institution. as long as your making payments to your bank or whoever you have your loan thru, the dealership will not get involved, cause the bank owns the title now that they have paid for it. now if you miss a few payments to whoever you owe this debt to, they could hire a repo man to come an get your car, an this would not do your credit report a bit of good, hope this helps, good luck!
2006-07-27 00:35:17 · answer #3 · answered by 84_4X4 2 · 0⤊ 0⤋
Probably depends if the dealer sold the contract to the bank or if the bank is just servicing the contract for the dealer. Not being a "suing" man, if you have proof of payment, I would look at legal action against the dealer and/or the bank for failure on their part
2006-07-27 01:09:44 · answer #4 · answered by toejam 2 · 0⤊ 0⤋
Unless the dealership has a lien or title on the vehicle, they have no rights to it. If the dealership is threatening to repo, call your bank, the better business bureau, and/or any state agencies regulating vehicle sales.
2006-07-27 00:27:35 · answer #5 · answered by Muffie 5 · 0⤊ 0⤋
your first answer reaper is correct, but they have a separate co, that repoes for them ,if you have all receipts then your OK, just make a Phone call to the repo people or the lien holder ,and tell them you can prove you've been making payments and clear it up that way, good luck
2006-07-27 03:06:19 · answer #6 · answered by Mechanical 6 · 0⤊ 0⤋