can a used car lot make you pay a car off if they are in posses ion of it and is not telling you?

Answer 1

If I understand your question correctly this is a car that has been repossessed.. A used car lot should not be able to make you pay..only a finance company can..after they sell the car at auction they can bill you for the difference between what you owe according to the financial agreement and what they sold the vehicle for plus interest if they wish (and there are guidelines as to how much interest they can legally ask for.) If you financed the car directly through the car lot they can still only make you pay what you owe minus 'fair value' of the car..you should never have to pay the entire amount owed on the financial agreement if they have taken possession of the vehicle.

They do not have to tell you where the car is if it was repossessed because of your inability to make the payments. They do however have to provide you with paperwork showing how much it was sold for and how much you subsequently owe.

Answer 2

I think you need to clarify a bit about what you are asking. How is the used car lot in possession of your car and not telling you. There is one answer that states the finance company can repossess the car and not the lot. Did you get the car at a "Buy Here, Pay Here"? If you did, then it is possible that the dealership holds the note, especially if the original cost of the vehicle was not all that much. In that case, if you stopped making payments then they can repossess your car, charge you late or collection fee or in the event you do not settle up, sell the car and come after you for the difference.

Answer 3

My guess is that your car was repossessed. Yes, you are responsible for any shortfall when they sell the car after it was repossessed.

Answer 4

What does it say in your contract?