2007-10-22 02:32:04 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Yes, they can repossess if you do not follow the terms of the contract which you signed when you took the original financing. You need to seriously negotiate with the lender involved. If you obtain agreement to make reduced payments for a period of time, be sure to get such agreement in writing, such that they cannot later claim that you are in default.
2007-10-22 02:53:16 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
They can but most likely wont. If you are consistent with making the payments that you and the lender agree on, they will be happy to have something rather than repo the car.
2007-10-22 09:40:25 · answer #2 · answered by Diane M 7 · 0⤊ 0⤋
yes with car finance they are a law unto themselves
2007-10-22 09:37:10 · answer #3 · answered by dumplingmuffin 7 · 0⤊ 0⤋
If they do not agree with the reduction, they can take it.
2007-10-22 09:53:17 · answer #4 · answered by Wayne Z 7 · 0⤊ 0⤋