voluntary repossession I need help please?

Question

I bought a car back in May. I had a good job at the time. I have made 2payments but none since, as I lost my job. When I origionally bought the car, I bought it w/the condition the dealer would put cruise control in it. It is a 2006 model. Since i have been getting the run around on getting it installed. One excuse after another. I am to the point that I am tired of dealing w/the dealership and ready to let it go back. I can pay the 2 mo i am behind, just havnt hoping they would fix the car as agree'd when i purchased. Is there anything I can do? Also, If i take it up there and park it what is the result of that? I mean just let them have the car back? It is reported on my credit at 60 day late pymnt. Am I going to have a hard time getting financed even at a buy here pay here lot? How does it effect my credit? Thanks

Does that mean I can take the car up to them w/breech of contract. I do have it in writing and I have talked to several people at the dealership on the matter. But How do i relay this to the finance company w/out the mark on the credit?

Answer 1

What state do you live in? You might want to check into the lemon laws, they can help consumers who are getting the run a around, but only if you have it in writing.

Not having cruise control is no reason for not making your payments, you need to get those payments current than send a certified letter to the dealer who has already been paid for the unit by the finance company and demand that the cruise be taken care of, also inform your finance company that the dealer will not do this.

Be very persistent with it, but until you are paid up, you have no leg to stand on, just remember that.

As for a buy her pay here you work you ride place. 1 word ewwwww. Stay away from them, you think you have trouble now? Get involved with one of them.

The go to the dealers auctions and buy a unit for 2000.00 mark it up to 8,000.00 They was it, vacuum it out, spray some brake cleaner on the motor to get rid of any oil leaks that might show on the motor, I have even known them to sawdust the transmissions to make them run smooth enough to get them out of the lot on the street. Then the payments are so high, the unit gets repo'd and resold. I have actually repossessed a Chevy Suburban 4 times for the same lot, from 4 different people, stay clear of these places.

Do what you can with the car you have started on. Call the finance company inform them that you are being taken advantage of, check the lemon laws and you can also threaten to turn them into the state attorneys generals office.

They are just doing it, because you are letting them, put your foot down and take measures to put it to a stop. Somewhere along the way someone will be willing to help you.

Answer 2

There are two separate issues here and they are not related to each other. One is you borrowed money to purchase the car. You owe that money to a bank or finance company. The dealership has been paid for the car by the bank or finance company, so your lack of timely payments does not have any affect on them.

The second issue is the dealerships refusal to install the cruise control that you were promised (hopefully in writing). If you have it in writing, go to another dealer for the same brand. Get a written estimate for the cost of installing cruise control. File suit in small claims court for the cost of the installation, and allow a court to decide!

If you allow the car to be repossessed, the finance company will sell the car, and you will still be liable for any unpaid balance. You will end up having to pay for a car you do not have, and your credit will be bad for 7 years. Make the late payments today!!

If the finance company is not local, send the payment via overnight delivery (such as Fed EX) and call them and tell them it was sent and the tracking number!

Make your payments on time and in about a year the 60 day late payment will not damage your credit!

Good luck.

Answer 3

Unless you have something in writing about the instalation of your cruise control, you are fighting a loosing battle. If you no longer wish to keep the car then you need to call the dealership and find out if you can still return it. They should have a policy on returns, if that time expired then you should just sell it back to the dealership or somewhere else. Mostly likely you will probably lose money if you sell it to a dealership. If you no longer can make the payments then contact the finance company and work out a deal with them before it gets worse.

Answer 4

A voluntary repossession will take place as a black mark on your credit checklist too, even in the experience that your husband concurs to the repo and you attempt to get a loan on your call. It does not exchange the reality which you signed a settlement and you subsidized out of it later. So confident, it's going to harm your credit status, meaning you will ought to pay a extra physically powerful interest fee (and that's assuming lenders will conform to offer you a private loan for a house after the voluntary repossession).

Answer 5

Do not give up the car due to the fact that you did not get cruise control. Do you have a signed form called a "we owe" or "due bill"? It will hurt you 20 times more than them if you give the car back. It is not their car any more its the banks. They do not care if you give it back. A voluntary repo is just as detrimental to your credit as a involuntary repo is. You will not be able to buy a car for a while and when you can I can guarentee it will be a kia or something. Most lender will work with you. It is not too late. But you are getting really close to when they send the truck.

Answer 6

is the installing of the cruise control in writing? If so then they have breached the contract by not doing so. Take it back and tell them you owe nothing unless they do the work they promised. Even if it's not in writing..if they said they would do it...and you can get them to admit it then it's implyed contract...which resolves you of any debt. You didn't get what you payed for and that's the bottom line.

Answer 7

Too late. Whatever you do now, be ready for this bad experience to hunt you financially.

Answer 8

it will screw your credit up. do you have insurance if so just have it get stolen it sounds like they deserve it. (hint to get it stolen just leave it running)