2007-03-23 22:42:05 · 5 answers · asked by mrtitanhead 1 in Business & Finance ➔ Credit
Yes it's in your agreement
2007-03-23 22:46:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
NNNNNNNOOOOO THAT'S CALLED A REPO. THE PERSON OR DEALERSHIP WHERE YOU BOUGHT THE CAR IS NOW LOOKING FOR IT. WHEN THEY FIND IT THEY WILL TOW IT UP AND IT WILL BE GONE BEFORE YOU KNOW WHAT HAPPENED. IF IT HAS BEEN STOLEN YOU NEED TO REPORT IT STOLEN. AFTER 90 DAYS IT WILL BE REPOED ANYWAY...UNLESS YOU CAN PAY UP THE PAST 3 MONTHS PAYMENTS..THAT'S THE ONLY WAY THAT YOU WILL GET TO KEEP IT. GOOD LUCK
2007-03-24 21:18:24 · answer #2 · answered by princesswhitepaw 3 · 0⤊ 0⤋
Yes it is, because after 90-days of not making payments you are in default on your contract and it's not your car anymore. The lender is looking for it so they can repossess it.
2007-03-24 09:01:51 · answer #3 · answered by ? 7 · 0⤊ 0⤋
It's a breech of a commercial contract, not theft.
The only possible criminal offense is if the consumer obtained the loan fraudulently and never intended to pay.
2007-03-24 05:52:22 · answer #4 · answered by rumplestiltskin12357 3 · 0⤊ 0⤋
they don't report it stolen, they hire a repossessor to take it away from you and keep it until you get caught up with your payments.
2007-03-26 23:41:47 · answer #5 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋