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When your car has been repossessed, you’ll naturally want to know if you can get it back. The answer is, it depends on your lender, on where you live and on your specific situation.
If your car has been repossessed, you need to take action right away to get your finances in order and get back on the road. Here are two questions you'll need to answer: The average person has to ...
While having your car repossessed can lead to big financial problems, you should know that you would be far from alone if this were to happen to you. More than 1.2 million cars were repossessed in ...
Vehicle immobilization is a key part of the act of impounding.. Vehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, [1] which is a holding place for cars until they are placed back in the control of the owner, recycled for their metal, stripped of their parts at a wrecking yard or auctioned off for the benefit of the impounding agency.
Usually, the vehicle owner must be notified of a repossession. The repossession agent will find the car and check its information such as the vehicle identification number (VIN) to make sure they have the right vehicle. If there is a match, they will attempt to hook up the car to the tow truck and tow it away or pick the lock and drive it away.
Unlike rentals, usage of company cars varies greatly from the luxury sedans driven carefully on occasion to delivery trucks that regularly mount curbs and gets abused in city traffic. Repossessed: vehicles can be voluntarily or involuntarily repossessed by financial institutions for several reasons, including late payments, undisclosed past ...
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