2007-01-23 01:21:16 · 11 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Why don't you register the car in someone elses name or sell it?
2007-01-23 01:25:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Effectively the car belongs to the finance company. First they will give notice in writing that they are seeking to recover the car for whatever reason (money outstanding etc) then they (usually a collection agency) will come to collect. If they are unable to collect the because you refuse to tell them its location they will apply for a CCJ or court order to sieze the car (this is when court appointed bailiffs step in), after this you must hand over the car or face prosecution. At every stage costs are added to the amount you owe. The best thing to do is to speak to the loan company and either hand over the car or make arrangements to repay what you can. In truth, reposesion is the last resort for most loan companies, they would rather you pay them at a lower rate than have to recover then sell a car at auction.
2007-01-23 01:49:26 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If the objective is to shrink your month-to-month money, curiously like a plan, however the maths seems somewhat stunning to me. Assuming you get the $16k on the Santa Fe, you're able to then owe $5k on the Altima, and could arise with $6k for the recent motor vehicle, or finance it, with out down charge. I say no down charge on account which you will need paid the $5k on the Santa Fe to convey it from the different way as much as point, and then the $16K could be what the dealership could supply you. so which you will finally end up owing $11k rather of $21. understand that maximum sellers will furnish below KBB value, even once you're watching the KBB commerce in value and not retail value. additionally, costs of activity will element in to make your ideas up what your charge could be. If it have been me, i could ask a pair of sellers what they could supply, ballpark parent, on the Santa Fe. Then verify out how a lot you will owe between the re-finance on the Altima and the recent motor vehicle, and choose, or get somebody to furnish you a hand determining what your new month-to-month money could be. additionally understand that any motor vehicle you get for $6,000 isn't possibly to be new and could have some mechanical problems that could value you. See if in spite of everything which you finally end up paying much less between the two vehicles. If it works out, then particular, is clever to choose for it.
2016-11-26 20:52:39 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I deal with bailiffs in my job if the vehcile is on private property the bailiff cannot come onto your land but they will notify the finance house who will then get a court order which means you are liable for the court order charge (up to a £1000) & you have to hand over the vehicle or be prosecuted. Nothing in life is free we all have to pay our bills sorry to say.
2007-01-23 01:31:19 · answer #4 · answered by richardwales79 3 · 0⤊ 0⤋
They can send the sheriff out with a subpoena for you to give up the asset. If you do not give up the car they can take you to court and garnish your wages.
2007-01-23 01:31:38 · answer #5 · answered by answerman 3 · 0⤊ 0⤋
You wouldn't want to have happen what can happen to you if they find out you are hiding the car.
Lets just say your in a heap of trouble.
2007-01-23 01:27:06 · answer #6 · answered by Floyd B 5 · 0⤊ 0⤋
They will find the car......... At work, at home, in a parking garage.
2007-01-23 01:27:59 · answer #7 · answered by rlbendele1 6 · 0⤊ 0⤋
They will take 'goods to the value of'
2007-01-23 01:29:34 · answer #8 · answered by Anonymous · 0⤊ 0⤋
HAHAHA let me know what happens!thats a good idea!
2007-01-23 01:25:19 · answer #9 · answered by Anonymous · 0⤊ 0⤋
They will find it and then you will be in deep sh*t.
2007-01-23 01:29:03 · answer #10 · answered by Anonymous · 0⤊ 0⤋