Ads
related to: bank repossessed cars for sale in gauteng
Search results
Results From The WOW.Com Content Network
If you owe $12,000 on the loan, for example, and the lender sells your repossessed car for $8,000, the $4,000 difference — as well as any associated fees and costs — are called the deficiency ...
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
Various objects can be repossessed, including boats and aircraft, but most repossession agencies focus on car repossession. The repo agent normally uses a tow truck or pickup truck with a special towing attachment called a boom. They also may obtain the key from the car owner. Usually, the vehicle owner must be notified of a repossession.
Ads proclaiming "Government Vehicle Disposal" and "The Repo Joe Sale" are designed to steer buyers to special used car sales events under the pretense they're getting a special deal.
Learn about long-term car loans, their pros and cons, and whether an 84-month car loan is worth it based on your financial situation and car-buying needs.
the sale of credit occurs during a pre-arranged visit for that purpose by the consumer; or the provision of credit is incidental to the sale of goods or services. A credit provider may require that a consumer have credit life insurance during the existence of a credit agreement, but has a duty to ensure that suitable options for insurance cover ...