auto repo question....?

Question

How much time is allotted to get your vehicle back after its been repo'd? This is the state of Florida...

Answer 1

I am a repoman in PA...here is what I found for you...your vehicle is gone...the first thing is CALL IMMEDIATELY. If you call then the leinholder knows that you aren't a deadbeat and you actually care about your property. But basically your state is similar to ours...

You have 15 days to pay all back amounts up to and including back payments, repo fee, storage fees and any admistrative fees that may apply. The leinholder will need to contact you via registered mail to let you know you have been repo'd, if you fail to respond, your vehicle will either be resold at auction or the leinholder (if its a buy here pay here) will just file for a new title after the time has expired and will resell it themselves. You may still be responsible for storage and repo fees plus the difference between the amount owed and the amount of resale. Not only that but then you have the issue of your property...you may have storage fees relating to the holding of the contents of your vehicle.


b) In case of repossession of a motor vehicle or mobile home pursuant to the terms of a security agreement or similar instrument, an affidavit by the party to whom possession has passed stating that the vehicle or mobile home was repossessed upon default in the terms of the security agreement or other instrument shall be considered satisfactory proof of ownership and right of possession. At least 5 days prior to selling the repossessed vehicle, any subsequent lienholder named in the last issued certificate of title shall be sent notice of the repossession by certified mail, on a form prescribed by the department. If such notice is given and no written protest to the department is presented by a subsequent lienholder within 15 days from the date on which the notice was mailed, the certificate of title or the certificate of repossession shall be issued showing no liens. If the former owner or any subsequent lienholder files a written protest under oath within such 15-day period, the department shall not issue the certificate of title or certificate of repossession for 10 days thereafter. If within the 10-day period no injunction or other order of a court of competent jurisdiction has been served on the department commanding it not to deliver the certificate of title or certificate of repossession, the department shall deliver the certificate of title or repossession to the applicant or as may otherwise be directed in the application showing no other liens than those shown in the application. Any lienholder who has repossessed a vehicle in compliance with the provisions of this section may apply to the tax collector's office or to the department for a certificate of repossession or to the department for a certificate of title pursuant to s. 319.323. Proof of the required notice to subsequent lienholders shall be submitted together with regular title fees. A lienholder to whom a certificate of repossession has been issued may assign the certificate of title to the subsequent owner. Any person found guilty of violating any requirements of this paragraph shall be guilty of a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084.

BUT CALL THEM IMMEDIATELY AND GET THE PROCESS GOING IN YOUR FAVOR....

hope this helps email me if you need anything else

Answer 2

depends on the bank. They don't have to let you get it back if they don't want to. You broke your contract. If you contact them, ask if you can reaffirm they may say yes, they may say no. It depends on your history with them and your situation or they may sell it to you outright. You have to contact them and ask. If they sell the car at auction and get less than what you owe, you still have to pay them the difference. Good luck

Answer 3

You have to call the bank and the impound and ask them how long they will hold it, and when you go to get it out you have to pay the loan off in one lump sum to get it back.