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Know the Law. The process of repossession is intrusive and frustrating and can be intimidating. The laws are murky and vary from state to state, but a court order is almost never needed for a ...
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.
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. [1] Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. [2]
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.
The new car loan rate for September was 7.4% compared to the average rate of 6.9% at the beginning of 2023. The percentage of car owners that pay at least $1,000 a month jumped to 17.1% in the ...
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. But the ...
The Tennessee Department of Revenue (TDOR) is an agency within the Tennessee state government that is responsible for administering the state’s tax laws and motor vehicle title and registration laws. More than 800 people work for the Department of Revenue.
Back in 2023, Tennessee’s car insurance landscape saw significant updates that drivers need to understand. With new regulations now mandating higher property damage liability limits, it’s ...