Can I Repo a Vehicle I Sold if it's Still in My Name

[meridianboy]

My question involves an auto loan or repossession in the State of: Mississippi

I live in the state of Mississippi and I let someone take over the payments of my car. The car,tag,insc and everything is still in my name and see makes the payments to me. Anyway she has had the jeep for 2 months now and has been late both months. I did put in the contract she signed that there would be a $50.00 late fee but she hasn't paid the late fee for last month or this month yet. Also I just found out that she isn't even the one in possession of the jeep. I found out she lied and really got it for her son. I would have never let her son take over payments of a car in my name because he is in a lot of illegal stuff. I mean bad stuff. He was even brought in and questioned about a young man disappearing and latter found dead. My question is can I have the car repoed just on the grounds that the person who made and signed the contract with me isn't the one in possession of the jeep?

[jk]

My question is can I have the car repoed just on the grounds that the person who made and signed the contract with me isn't the one in possession of the jeep?

Not unless that was a condition of your contract/

[meridianboy]

I didnt put in the contract that only she could drive the jeep. What do I need to do because i am worried he is doing illegal stuff in a car that is in my name,car,tag everything. she was late last month and made part of the payment but didnt pay late fee, This moth was late again and only paid part of payment this month. What do I have to do? Isnt the contract voided because she doesnt even have the car at all. she got it and gave to someone else. Also contract wasnt notirized or anything either

[jk]

I would suggest you make a demand for payment, at least to bring the loan up to date or relinquish the vehicle. If she refuses, I would sue for the rescission of the contract. Be aware, you may have to repay some of the payments made if you avail yourself of this method.

the problem: you really have no action available if she is up to date on payments. The problem you have is by your own doing when you did not simply sell the vehicle and transfer title.

[meridianboy]

I have a repo company that will repo the jeep for me. What can happen if I have it repoed? because I do not want him to have it with everything being in my name. I have learned in the last 30 mins he is in bad with meth as well. here is a copy of the contract



April 10, 2012

AGREEMENT BETWEEN DAVID ****** AND ____________________________________
RE: 2003 Jeep Liberty Sport VIN: ***********

Both parties agree to the following:

_ ________________________ will take over all remaining payments on this vehicle payable to Wells Fargo in the amount of $289.59 per month due on the 10th of every month until the balance of $5002.26 is paid off in full; as well as pay $65.00 per month for insurance premium for a total of $354.59 monthly.
- If the monthly payment is not received by David ****** by the 13th of each month, the user will pay $50.00 late payment charge.
- At the time that said vehicle longer has a lien on it, David will transfer the title into the name of Mardi ****** .
- User will pay David ****** $600.00 up front to assume payments on vehicle.
- The user of the vehicle will assume responsibility of vehicle registration keeping all tags up to date.
- If the user of the vehicle, misses two consecutive payments, David ****** will reclaim the vehicle.
Payment will be deposited into David ******* Checking Account every month by the 10th .
Bank Information
Regions Bank
Account# ********
Monthly payments will start May 10th , 2012


Signed:

_________________________________________ ___________________________________________
David &&&&&

[jk]

if you repo it? Well, getting sued is likely high on the list.

again, him having possession of the car means nothing. You are the one that allowed it by not restricting it in the contract.

- If the monthly payment is not received by David ****** by the 13th of each month, the user will pay $50.00 late payment charge.

well, there is your remedy if she is late with the payments.

and this:

- If the user of the vehicle, misses two consecutive payments, David ****** will reclaim the vehicle.

Until she misses two consecutive payments, you have no right to repossess the car.

[meridianboy]

Ok. thank you. I don't mind getting sued. I was planning to issue her a certified check for the amount they have paid on the car. DONT WANT TO TAKE ADVANTAGE OF SOMEONE BUT I DONT WANT TO GET IN TROUBLE FOR SOMEONE ELSES ACTIONS.

[jk]

I understand. Cannot condone the action but I understand.

[meridianboy]

One more question. in the contract it says this
If the user of the vehicle, misses two consecutive payments, David ****** will reclaim the vehicle

They were late last month and late again this month so couldnt that mean they missed two consecutive months? even though they made the car payment but not the late payment charge? I know with my bank if Im late on a payment and I get charged a late fee when I do make the payment the late charge comes off the top and if I only made the payment and not enough to cover payment plus late fee they would consider payment still late.

[jk]

late is not missed. Not making the payment is missed.

You are stretching it but it won't reach.