I got my truck through a dealer how did an inside financing, I pay 175 every two weeks I was two wekks behind so they came a took the vehicle. I have the money to catch up as well as any fees. The are now saying that ( the company) dosent want to give it back to us and that they found another loan company who will refinance the balance ?? Is this legal ?????
2007-01-04 02:28:20 · 4 answers · asked by Kimberly S 1 in Cars & Transportation ➔ Buying & Selling
You did not make the payments that you agreed to make, when you agreed to make them. Because of this, the truck was repossessed. They now are unwilling, as is their right, to reinstate the defaulted loan, instead saying they want the loan paid in full before you get the truck back.
Because you do not have the money to pay off the truck, you will have to find another finance source, or not get your truck back. The dealer has a new finance source for you, if you want it. If not, you can borrow the money yourself, from some other finance source, if you can find one.
This is very legal! Once you have defaulted on the loan, the balance is due and payable in full. Read the finance contract that you signed!
2007-01-04 03:06:43 · answer #1 · answered by fire4511 7 · 2⤊ 0⤋
You defaulted. Look at the terms of your loan.
2007-01-04 10:30:53 · answer #2 · answered by Anonymous · 2⤊ 0⤋
I think you should read your loan agreement real good. You may need some legal advice.
2007-01-04 10:31:06 · answer #3 · answered by Nancy O 3 · 0⤊ 2⤋
Wow. Contact your Attorney General and file a complaint...Good luck...They should work with you...sounds crooked to me
2007-01-04 10:32:24 · answer #4 · answered by Patches6 5 · 0⤊ 2⤋