What happens if you purchase a car and your check bounces?

Question

I know someone who "says" they purchased a car and their check bounced so the finance company repoed the car without calling them to warn them about taking the car back. They say it was the banks fault about the check having bounced.

I don't think the bank would have taken the car back, I think they would have given them a chance to replace the check with cash.

I think this person is lying what do you think?

Answer 1

You'd think that this is the way things are done! But the bank doesn't HAVE TO do that. Writing a bad check is illegal and they probably took the situation at face-value.

If you get someone at the bank who woke up on the right side of the bed and actually had their coffee in the morning they may be nice about it and do that... but....

He's probably not lying. It's likely to happen that way nowadays. The banks are seeing a dead-beat payer with the FIRST payment so they went and got their property back!

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Answer 2

If the person bought the car at a "buy her,pay here" type of used car lot, I can see that happening. But if they bought a new/used car and had it financed through a bank, I doubt they are telling the truth. If the check that bounced was their down payment, then the dealership would be hounding them or taking legal action against them. If it was for 1 payment, the bank wouldn't go to all that trouble to repo the car for one bad payment. More than a few payments bouncing or missing, then the bank starts something, but not before notifying the person and warning them if their checks are not good or received, they will repo the car. The banks have to pay someone to repo the car...they won't go through that for 1 payment. Where as a buy her pay here lot, can just send one of their thugs to get the car!!

Answer 3

I think you are right.