The car is a Jaguar late model financed thru the Jag dealer and the owner had passsed away. The car was repo'd and sold at auction for 1/2 of value. Jaguar is su-ing the estate. The reopguy refused to sign the release which the Jag people had agreed to as condition of pickup
2007-01-29 02:00:21 · 3 answers · asked by aarf 1 in Cars & Transportation ➔ Buying & Selling
in a word yes
2007-01-29 02:09:28 · answer #1 · answered by Ibredd 7 · 0⤊ 0⤋
They can sell/auction the car as they wish and do have the right to recoup their losses. You may want to see what type of insurance the owner had as this may cover payments, etc in the event of his death.
2007-01-29 11:29:37 · answer #2 · answered by stingray41042 3 · 0⤊ 0⤋
They have the right to sue you for the remainder of what is unpaid. Laws have changed and a voluntary repo no longer leaves you debt free. The car was never yours to begin with since they held the title under their name until payment was completed via your monthly payments.
If they repo their own car, they can do whatever they please with it.
2007-01-29 10:05:46 · answer #3 · answered by rob1963man 5 · 0⤊ 0⤋