Do u have to give the repo man your car?

Question

Do u have to give the repo man your car?

Answer 1

Yes.  You do not own the vehicle (the registration certificate shows the registered KEEPER who is not necessarily the owner!), the finance company has a Lein upon it until all payments are met. If you fall behind in your payments the finance company has the right to repossess your vehicle in order to sell it to clear (hopefully) the outstanding debt.  The repo man acts as an agent of the company.

Further, if the repossessed vehicle does not fetch sufficient money when auctioned, you will still owe the finance company the difference.  If it fetches more than the outstanding debt they will refund to you the difference. Each plus or minus their costs.

Answer 2

U Better or ELSE.

Answer 3

Yes, he is the representative of the legal owner of the vehicle.

Answer 4

Me?  Never, I paid cash for my car.

Somebody else might have to, though, if he/she reneged on the financing on a vehicle and had a repo order issued.  If the order is issued, it is illegal to actually hide the vehicle from repossession.  A repo man cannot enter a locked garage or compound to fetch the car, however he can be accompanied by a sheriff's officer who can break a lock if necessary.

Answer 5

well you can contact the back but usually when a repo agent comes to your door it is because the bank wants to cut the losses

take in mind that the repo man is not the one who is taking your car they are just there to get it it is still the bank who has chosen to repo your car

the best thing is to just hand the keys over and then talk with the bank and see if something can be arranged

if something can be arranged you can get the car back

goodluck

Answer 6

Yes. If you take out a finance agreement, the loan is secured on the car, so it technically belongs to the finance company until the outstanding loan is paid off. If you default on the payments, it is breach of contract on your part, so they can sieze the vehicle. They will sell the car, and if it raises more than the cost of the outstanding loan, you get the balance back.

Answer 7

You can give him the car or you can refuse and he will take the car. If you don't pay for it it isn't yours.