| Auto Loans and Repossession Creditor actions following late payment or default on motor vehicle loans. |
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02-01-2009, 03:03 PM
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Junior Member
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Join Date: Feb 2009
Posts: 3
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Repo Over Traffic Violation
My question involves an auto loan or repossession in the State of: OHIO
My Fiance and I just purchased a vehicle. It was put in her name cause my credit sucks. The bank we have the loan through called and told us that if anyone other than her is pulled over while driving this vehicle or in an accident without her IN the car, they will terminate the loan, repossess the car and return all money that we have paid thus far. We signed no documents stating this. I have done research on the net and have found nothing other than repo's over late payments. I am covered on the insurance for this car. Is this even legal? I Would think that is not. Or are they just trying to scare her.
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02-01-2009, 03:08 PM
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Senior Member
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Join Date: Apr 2008
Location: Texas (Dallas area)
Posts: 1,408
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Re: Repo Over Traffic Violation
Quoting rfteam29
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My question involves an auto loan or repossession in the State of: OHIO
My Fiance and I just purchased a vehicle. It was put in her name cause my credit sucks. The bank we have the loan through called and told us that if anyone other than her is pulled over while driving this vehicle or in an accident without her IN the car, they will terminate the loan, repossess the car and return all money that we have paid thus far. We signed no documents stating this. I have done research on the net and have found nothing other than repo's over late payments. I am covered on the insurance for this car. Is this even legal? I Would think that is not. Or are they just trying to scare her.
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Uh, I think your fiance told you this so you will not borrow the car. There is no such law and anyone can drive your car with your permission.
I hate to tell you this but you where told a big ol lie from your fiance. Now may be a good time to re consider getting married as you can save yourself a future divorce. 
__________________
My posts are not intended to offend anyone. I am sorry if they have. 
When it comes to your FICO scores you are dinged if you do and dinged if you dont  |
02-02-2009, 03:27 PM
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Junior Member
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Join Date: Feb 2009
Posts: 3
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Re: Repo Over Traffic Violation
I was there when she was on the phone and the car was purchased for me. We used my old car for trade in. Your reply is exactly what I thought. I just dont understand why the bank would say that.
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02-02-2009, 03:31 PM
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Junior Member
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Join Date: Feb 2009
Posts: 3
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Re: Repo Over Traffic Violation
Is is possible to go in default without being behind on payments? HMMMMM!
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02-02-2009, 03:41 PM
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Senior Member
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Join Date: Jul 2006
Posts: 5,442
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Re: Repo Over Traffic Violation
Quoting rfteam29
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Is is possible to go in default without being behind on payments? HMMMMM!
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Yes it is.
You may violate other provisions.
By the way, tell your friend that she needs to ask the bank to show her IN WRITING where those conditions are.
__________________
“Be not niggardly of what costs thee nothing, as courtesy, counsel, & countenance.”
--Benjamin Franklin
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02-03-2009, 12:30 AM
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Senior Member
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Join Date: Apr 2007
Location: Il.(near StL,Mo.)
Posts: 3,991
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Re: Repo Over Traffic Violation
Why don't you call the bank yourself & see what they say.
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What do we live for if not to make the world less difficult for each other? George Eliot
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02-03-2009, 06:43 AM
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Administrator
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Join Date: Mar 2005
Location: Michigan
Posts: 26,484
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Re: Repo Over Traffic Violation
If he's not on the loan, they shouldn't discuss the terms of the loan with him.
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02-03-2009, 10:08 AM
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Senior Member
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Join Date: Apr 2007
Location: Il.(near StL,Mo.)
Posts: 3,991
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Re: Repo Over Traffic Violation
You're right. I wasn't thinking correctly - it was kind of late when I posted.
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What do we live for if not to make the world less difficult for each other? George Eliot
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