Friday, March 12, 2010

I live in Illinois and my car's finance company is in Michigan, will my reposses car go to Michigan or stay?

I'm behind on my car payments and the finance company is trying to reposses my car, if they take it before I pay it off, will my car stay in Illinois where I live or go to Michigan where the finance company is? Will I have to pay the balance to get the car back? How long (in the state of Illinois) will they allow me to come up with the money? Please serious inquires only!

I live in Illinois and my car's finance company is in Michigan, will my reposses car go to Michigan or stay?
I think you meant 'serious answers', but anyways....





Only your finance company knows where the car is going to end up. Even though they are in Michigan, they probably have a partnership with an Illinois based tow company and/or storage facility.





How long you have to come up with the money depends on the terms of your agreement, so I suggest you read the paperwork you signed when you bought the car.





In order to get the car back, you will need to pay the balance of what you owe, plus any towing and storage fees if the finance company agrees to give you the car back.


Note - Since you breached the contract by not paying, they do not have to sell you the car back. If they do not, you will have to buy it back at auction if you want the same car.....and you probably won't be able to finance that since you would have a repo on your credit history.





Good luck.
Reply:It will be sold where you are...


No comments:

Post a Comment

 


finance © 2008. Design by: Pocket Web Hosting