they are saying are going to report it stolen if I don't pay the money?
2007-10-02 09:34:06 · 10 answers · asked by tammy 2 in Cars & Transportation ➔ Buying & Selling
No it can not be reported stolen for failing to pay what you owe. The most they can do is repossess it then take you to court. Besides adding negative items to your credit report. Not paying your bills is not a criminal matter.
2007-10-02 09:37:06 · answer #1 · answered by nypd030 2 · 0⤊ 0⤋
If you purchased the car from a legitimate loan provider they can not report the car stolen since the car is registered to you and you still have possession of the car. All of the paperwork says you own the car. You have a bill of sale, you have the registration, the insurance, the financial agreement, it's all in your name.
They can and will repossess it, but they cannot report it stolen.
2007-10-02 10:04:54 · answer #2 · answered by mccoyblues 7 · 0⤊ 0⤋
They can "say" anything they want. They cannot report it stolen because they gave you permission to drive it. When they repossess it, you can be sure that they will not feel the "need" to sell it at a high price, since you will owe them the difference in what is owed and what the selling price is. What goes around, comes around. You should just turn it over.
2007-10-02 09:38:48 · answer #3 · answered by sensible_man 7 · 0⤊ 0⤋
If you are behind on your payments the title to the car is in the name of you and the finance company and yes they do report it as stolen since you did not live up to the terms of the payment agreement forcing them to act in an effort to reposess the car they report it as stolen
2007-10-02 09:38:03 · answer #4 · answered by Fabio G 3 · 0⤊ 0⤋
You can't report anything stolen when you hand over the keys to someone.
They can repossess it though it is their car if you owe money.
2007-10-02 11:45:35 · answer #5 · answered by Airmech 5 · 0⤊ 0⤋
I think it depends on the state.
But the real issue here is a moral issue. you are defaulting on a loan that was given to you in good faith. You not only are legally required to pay, but morally as well. As far as i'm concerned, you are stealing. Pay the damn bill, or give the car back.
2007-10-02 09:42:31 · answer #6 · answered by jay 7 · 0⤊ 0⤋
I'm not sure about that.I've never been told that before and as for what likeitevenmatters 21 said the car maybe in your name but its not yours until its paid off and you have the title.
2007-10-02 09:39:16 · answer #7 · answered by joesgirl526 2 · 0⤊ 0⤋
Well, if you've got it and you're not paying on it, technically it's their property. Although you'll want to look at the contract you signed with them to make sure that's one of the repercussions of not paying on your vehicle. I'd recommend getting some money together asap.
2007-10-02 09:37:51 · answer #8 · answered by gilgamesh 6 · 0⤊ 0⤋
It's your car, if its under your name...how could they report something stolen that belongs to you? Unless its not your car then....
2007-10-02 09:36:06 · answer #9 · answered by Likeitevenmatters21 2 · 0⤊ 0⤋
i might verify with the community police; i assume in the event that they carry the call and you haven't any longer paid they are in a position to legally say so; yet i think of the police might have a greater perfect theory. issue is that that's registered on your call; subsequently for the purpose of the state you have a criminal impressive to the vehicle.
2016-10-10 04:32:54 · answer #10 · answered by ? 4 · 0⤊ 0⤋