Tree fell through the back of car - window and roof destroyed, but would like to sell the car or perhaps donate it to charity - it still runs or could be used for parts.
2007-07-21 01:47:14 · 4 answers · asked by audi9202 2 in Cars & Transportation ➔ Buying & Selling
Technically, I believe the car is still the property of the finance company. What you need from them is a release that says they have no further financial interest in the vehicle. They may also release the title to you. If you can get the release, you can probably get a replacement title without a lean. You haven't mentioned an insurance company in your question. If they paid a claim to the finance company, the car is legally theirs. Good luck!
2007-07-21 01:54:37 · answer #1 · answered by Mark A 4 · 2⤊ 1⤋
i'm not a lawyer, accountant or something like that. even although, my terrific chum experienced this. in actuality, you will desire to tutor the automobile in or it is going to get reposessed. believe me, they're going to discover you. sure, you are able to sell it. i've got self assurance your question is "am i able to sell it legally"? :) additionally, that's terrific to pass forward and take a glance at to maintain as much as pay it off. this is what can take place. (a million) You the two voluntarily or involuntarily renounce your automobile. in spite of each and everything - it replace into probably the collateral for the very own loan. (2) The economic enterprise with which the very own loan exists will sell your automobile at an public sale. very in all probability at a fragment of the particular value of the automobile. (3) while they do this, they're going to the two sell or write off the debt. there is the place the exciting is accessible in. (4) countless years later you will get carry of a freelance furnish or a fact which you're being sued for the version in the quantity of the very own loan much less the first public sale value of the automobile. (5) someway you will would desire to pay it. be conscious: A reposession, voluntary or involuntary, remains on your credit historic previous for 7 years after it replace into reported as a repo. in case you do not settle the very own loan it may influence whether you get an condominium, living house, yet another automobile sooner or later, and so on. Repos are very gruesome and if there is something you're able to do to barter a payoff with the economic enterprise, i could propose doing it. wish this enables.
2016-10-22 06:13:14 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Pay off the finance company. You can't even junk it without a clear title.
The fact that the finance company charged off the debt as unrecoverable doesn't affect their rights to the vehicle; it's an accounting procedure that allows them to take a bad debt expense, that's all.
2007-07-21 05:54:18 · answer #3 · answered by Bostonian In MO 7 · 4⤊ 0⤋
its not your car, the ins co gets to sell it for parts
2007-07-21 01:59:20 · answer #4 · answered by vincent c 4 · 2⤊ 0⤋