I recently purchased a car from a used dealer. they turned around and repoed the car. Do i have the right to

Question

recover some of, if not all of my down payment?

Answer 1

they repoed it for a reason and if it was due to late payments then you can't do anything about it.

Answer 2

If you stopped making the payments, you have no right to the downpayment. That is why it was repoe'd, so downpayment is lost, duh.

Answer 3

If they repoed the car for non-payment, you are out of luck.  It will be sold at auction and you are responsible for any amount that does not cover your loan.  For example, it you owed $2500 on the car after the down payment, and they repoed it, and got $1500 at auction, you will still owe the $1000 to whomever the loan was through.  

If they took it back due to you being approved for the loan, then yes, they owe you your deposit.    

Answer 4

Were you delinquent on your payments? Then no, you should have made your payments.

If they took the car without just cause you can go to court to get either the down payment or the car back.

Answer 5

If I am reading this correctly you did not make your payments. You're choice is to catch up on what you owe plus the expenses of repoing your car or take what you got coming for not paying your debts. You owe them for the full value of the car regardless of how much you put down. If they really want to put the screws to you they will sell it for less than you still owe them and get a judgement against you. Say goodbye to your credit rating.

Answer 6

Well if you stopped making the pays you loose everything. Its part of the contract. And you need to make sure you have some kind of letter clearing you from any responsability of the car. Because remenber the dealer repoed you car but the bank who financed your car still has not been payed and they will collect their money later.  

Answer 7

Why was it repoed?  If it was for lack of payment then yes, and no you would not be entitled to your down payment as you broke your contract.  If it was repoed and you made your payment, yes you have a small claims case

Answer 8

If they repoed due to lack of or late payment, you are out of luck.  You were the one who broke the contract by not paying for it in the manner stated in you purchase agreement.

If they were not justified, then you can take them to court to either get back the car or get your money back.