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Auto Loans and Repossession Creditor actions following late payment or default on motor vehicle loans.

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Old 06-28-2008, 06:34 AM
Lonestarloss Lonestarloss is offline
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Default Texas Wrong
My question involves an auto loan or repossession in the State of: Texas

Here is what happened I bought a car in Texas and signed a contract on June 6, 2008. This week the dealer/salesman told me we needed to sign a new contract at a higher rate if interest so I request paper work to show my contract being in default and received nothing. Wednesday they repossess the car from my job, Friday June 27, 2008. I went to lot and all I get is sign the new contract I still can not get any paper work about any of this and don’t to be tricked/ force in to trouble.
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Old 06-28-2008, 03:31 PM
lwpat lwpat is offline
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Default Re: Texas Wrong
There is no way to tell from your post what has really happened. You may be the victim of a "yo-yo" sale which is illegal. This is where they give you the vehicle and then change the terms from the original contract. My suggestion is to get a written statement from them that you are not responsible for any deficiency and they give you your down payment back.
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