Results 1 to 6 of 6
  1. #1
    Join Date
    Oct 2011
    Posts
    2

    Default Can the Primary Owner Do a Private Party Repossesion if No Default of Contract

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

    My husband and I have been making payments on a car for four years. We took over payments of the car when his mother, co-signer on the car, moved to South America. We have regretted this decision for a long time because the primary owner listed, his aunt, moved to South America as well leaving behind a lot of debt, we have been getting collection calls for her for years. Yesterday morning the car was repossesed. We have contacted the financial creditors (Honda) and they assured us they did not order the repossesion since we had never defaulted on the loan contract. We found out the primary owner, his aunt, has moved back to the states and had the car repossesed. This person has never made one payment on the car, or ever owned/driven it for that matter. We have paid $20,000 on the car, directly to the creditor, and only had $5500 remaining. Is this legal or can we do something to get back the money we invested?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Can the Primary Owner Do a Private Party Repossesion if No Default of Contract

    If you are telling us that the car is titled in the aunt's name, without regard to who is making payments it remains her car.

    If you believe you have a claim against her for the car or money damages based upon your agreement, you may sue her.

  3. #3
    Join Date
    Sep 2010
    Posts
    19,891

    Default Re: Can the Primary Owner Do a Private Party Repossesion if No Default of Contract

    If you are not the titled owner or authorized by the court to sieze the car, your "repo" has another name: Grand Theft Auto.

  4. #4
    Join Date
    Oct 2011
    Posts
    2

    Default Re: Can the Primary Owner Do a Private Party Repossesion if No Default of Contract

    The car is still being paid for, wouldn't the title still be in the creditor's name? I have a copy of the Retail Installment Contract, from the financing company, and it shows that the aunt signed as the primary buyer, and my husband's mother as a second buyer? Does this make any difference?

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Can the Primary Owner Do a Private Party Repossesion if No Default of Contract

    When you buy a car, you are on the title as owner and the lender has a lien.

  6. #6
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Can the Primary Owner Do a Private Party Repossesion if No Default of Contract

    the creditor does not take title in their name. They only place a lien on the title to prevent it being sold until the loan is paid in full. The purchasers name is listed as owner and apparently that would be auntie.

    As Mr. K stated, if you believe you have a right in equitable title or the aunt owes you money to compensate you for what you paid over the years, you can attempt to make a claim with her. If she refuses, your next step would be to either hire a lawyer to attempt to negotiate this for you or sue her.

    If you sue her for possession of the vehicle, plan on having the cash on hand to payoff the loan.

    1. Sponsored Links
       

Similar Threads

  1. Cosigners: Primary Borrower Discharged Private Loans Due to Disability
    By snl79ohio in forum Debts and Collections
    Replies: 2
    Last Post: 08-11-2011, 01:24 PM
  2. Repossession: Private Party Repossession
    By helpwithlegal in forum Cars and Dealerships
    Replies: 3
    Last Post: 01-23-2010, 10:43 PM
  3. Repossession: Private Party Auto Sale Default
    By loverspoint in forum Cars and Dealerships
    Replies: 1
    Last Post: 03-06-2009, 12:51 PM
  4. Online Services: Private Party Sale
    By fireman514 in forum Consumer Law
    Replies: 3
    Last Post: 09-16-2008, 05:09 PM
  5. Repossession: Private Party Auto Sale Breach Of Contract Repo
    By ak_girl in forum Cars and Dealerships
    Replies: 1
    Last Post: 03-22-2008, 06:30 AM
 
 
Sponsored Links

Legal Help, Information and Resources