what do you do when a perspective buyer of a vehicle holds a title on a vehicle you had to repo?

Question

vehicle was registered to perspective buyer, buyer did not pay. Was oked by the local sheirff, what next?? ho do i retain my title

Answer 1

States differ in the reposession process. So contact your DMV. In general you will prob. need

1) A copy of the contract of sale
2) A statement that the buyer has defaulted on the payment
3) Whatever else they need to assert your rights.

There may be some formal notification or time requirement before you can sieze the car. If the car is expensive and the buyer prone to suing you, you may want to consider having a professional repo firm do the work for you to make sure it is done properly.

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Answer 2

somewhere , on the title, if it was financed, someone should be the lien holder. That means that the registered owner, doesn't really own it, until the holder of the lien(loan) signs off on it. If that is YOU, then you have more legal rights to the car . All you need to do is show proof that the loan holder was behind in payments, you repoed the car, its yours to do with what you'd like.

Answer 3

go to the local department of motor vehicles and file for lost title.

Answer 4

if its registered in their name they can legally take it back if not file for a lost title