Car payment/repo question?

Question

I bought my car at a local "buy here pay here" dealer, the car was $12,500 , I put down $2000 and agreed to pay $150 every 2 weeds until the balance was payed off, I am about 5 payments behind due to recent job trouble. I have moved to another state and have the car with me, they contacted my family member who i put down as a reference and they told him that they want me to bring the car back and they arent willing to accept any money even if i had enough to catch up on the payments. What I want to know is, since they dont know where i am, if I kept the car until i could get another 1 or make other arrangements, will they put a warrant out for a stolen car?And if so, how long before it would go through, I only need to keep the car for about 1 more month max. Any information will be appreciated, any additional details would be greatly appreciated, thanks.

Answer 1

YOu are in a mess.  I'm sure they already reported this to the credit bureau so getting another car will be extremely difficult if you have to finance (I'm assuming you have to since you can't pay for the current car).  You need to read the contract and see what determines if you are in default of the loan and the steps.

Unfortunately, this is classic "buy here, pay here".  They overcharge for the car and set up payments that the buyer can't keep up with.  They will repo your car and then sue you for the remainder of the money.  By the way, your car will be back on their lot in a couple weeks sale for another sucker.

You have a mess on your hand.  Not much you cana do but turn in the car.  They will eventually catch up to you.

Answer 2

You are basically screwed. You'll be buying overpriced junk cars at ridiculous interest rates from BHPH lots for the rest of your life, if you don't end up in jail first.

Answer 3

All they can do is repo it - IF they can find it.  Posession is nine tenths of the law.  Check with your state repo laws.

Answer 4

They can file a stolen car report right now. AS far as buying another car, I'm sure by now, your credit report looks like c**p.

Answer 5

keep in mind, once they repo the car they will sue you for the remaining monies owed. that means a court ordered garnishment.

id keep paying on it and get it current. once your current tell them where you live. they cannot repo you if you are current since you have a contract with them. most states dont allow a "demand full payment know" clause, which it sounds like they are trying to do. read all the fine print in your contract.

either way your gonna pay for the car, whether your driving it or not.

Answer 6

If the title and registration is in your name it can't be reported stolen. If it's in their name, it's possible but you have a contract. The most they can really do is try to repo and report to your credit.