I was buying a car from a buy here pay here lot in Colorado. Not 3 weeks after I bought it the Catalyic converter faild. I cant afford to fix it and would rather do without the payments of a car that has problems. So, if I take it back can the lot put it on my credit as a reposession. I have heard that since its a buy here pay here lot they cant but can not find any info on that on the net. Help please.
2007-01-11 02:38:05 · 12 answers · asked by Cameron T 1 in Cars & Transportation ➔ Buying & Selling
I don't know about Colorado but the dealership doesn't have to take the car back. If you return the car and abandon it there they can refuse it and then report late/non payment then eventually put a repossession on your credit report. They might be obligated to fix the problem because it has been less than 30 days you have owned the car. Contact your State Attorney Generals office about your problem and how to proceed. Dealerships usually will bend over backwards once the authorities are involved...good luck!
2007-01-11 03:26:41 · answer #1 · answered by skymer 2 · 0⤊ 0⤋
If you buy a car from a private party, and it winds up getting repossessed, they can report it to the credit bureaus, so I don't know where you got your information.
The only thing different about buy here pay here lots is that some of them don't run a credit check when you buy.
Also, if it was a buy here pay here lot, the chances are it was sold as is, and the failing parts are not their responsibility. Did you check out the vehicle with your mechanic before buying? They may not want the vehicle back unless you pay for fixing it, but you'd have to ask them about that.
Some of the lots have on site mechanics who will fix it, and add the cost of repair to your contract also to avoid taking it back. Again, talk to the lot.
Good luck.
2007-01-11 02:48:31 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
It is very doubtful that they will put a repo on your credit. Places like that don't report to credit bureaus. I live in CA and I've never seen a dealership put a repo on a credit report.
If you bought from a buy here pay here lot, you probably have bad credit anyway so that shouldn't be your determining factor to keeping the car. The factor should be how much it would cost to keep and maintain and if you can afford it.
Call your dealer, they might be able to help you fix it or put you another car. They want you to keep the vehicle, too.
Good luck.
2007-01-11 03:07:51 · answer #3 · answered by Confused 3 · 0⤊ 0⤋
Yes.
Not only that, but you ought to be able to get the Catalytic converter you need from a salvage yard at a reduced price.
But converters don't just fail, you might have other problems.
I'd buy another car first and then return the first car. You'll have to pay the interest charges you would have incurred during the life of the loan for it not to be on your credit.
Also, in the future, pay $100 and get a mechanic to check out any car you plan to buy. Chances are, any car purchased at a BHPH place is going to have somekind of issue.
2007-01-11 02:47:21 · answer #4 · answered by Lemar J 6 · 0⤊ 1⤋
Absolutely. But there is a difference between a "voluntary repo" on your credit and a "repo". The former means that you took the car back voluntarily, the latter that they had to hunt you down to retrieve it. Neither one is good. Check the "lemon law" in your state which can sometimes protect you if a dealer or individual sells you a vehicle and it can somehow be proven that they knew it was defective. Your best bet? Talk to the lot, explain the problem and see if they are willing to either fix the car or exchange it. BE NICE at first. If they are completely uncooperative, bluff and tell them (calmly) OK, you will hire an attorney and sue them.
2007-01-11 02:52:24 · answer #5 · answered by ? 3 · 0⤊ 0⤋
Buy Here Pay Here Colorado
2016-10-06 12:34:46 · answer #6 · answered by ? 4 · 0⤊ 0⤋
you still filled out the proper paperwork and if you signed an AS IS form you are responsible there for if you don't pay they can put it on your credit report any thing these days that goes unpaid can go on credit report for instance a late for for a movie you rent can go on credit report!!!
2007-01-11 02:47:09 · answer #7 · answered by scoob48413 2 · 1⤊ 0⤋
Yes, they can report it to the credit bureau. You signed a loan agreement, didn't you?
Catalytic converters are like mufflers, tires, and brakes. You have to replace them occasionally. If you cannot afford to do the proper maintenance on a vehicle, you should not have one. That doesn't make this car junk, or a lemon. Used cars require repair.
2007-01-11 02:45:45 · answer #8 · answered by J.R. 6 · 0⤊ 2⤋
No it will not. there is not a lone out on the car, and i gust did the same thing. i told them to come get the car after it broke down in only 3 week of having the car.
2007-01-11 02:53:51 · answer #9 · answered by Brian k 1 · 0⤊ 0⤋
Call this guy, after you give the other back if that is what you are going to do..... this guy may be able to help you get another one... a quality one.
Jim Reitz 303-883-5832
2007-01-11 03:52:59 · answer #10 · answered by kpotter47 3 · 0⤊ 0⤋