I purchased a car in Feb and put 5k down on it, after having it one week it needed 1800 worth of work done on it. My car note is due until the 7th of each month and I was told I had a 10 day grace period before accessing late fees. I have been paying my car not after the 7, but by the 17th. We were in Ala visiting for 3 days when the repo man came to get the car and we were told by the repo man it was being repoed due to suspenpeded license and no insurance. So the next morning I called the finance company and faxed over proof that I had valid license and I have always had insurance on the car, they told me the car is going back to the dealership and they don't want to finance the car anymore for me to find someone to finance the car for me. My payment was due on the 7th and the repoed it on the 12. I also told the manager that they had no grounds to repo the car due to no insurance and suspened license because I had proof either way true, then he tells me I took the car out of state and they felt like their property was at risk, I told him I never knew I couldn't take my car out of GA to visit other people. That's when he tells me it was repoed for non payment. This is when I told him about the 10 day grace period and I can show cancel checks and western union receipts that I have made my payements by the 17th which was my 10 day grace period. Is there anything I can do. I live in GA the finace company is in GA and they only finanace one dealership in GA and now the dealership have my car about to sell it to someone else. I have put almost $7k into the car. I called the dealership I got the car from to ask about getting my 5k back and the owner told me they don't give money back I have to deal with the finance company, which the finance company told me to contact the dealership, because they are the ones who got the 5k. Is there anything I can do to get my money back? Is this legal for them to take my car because my husband has suspended license. Both of our names is on the car and I have valid license.

All you will get back is the difference between what they can actually sell it for minus the amount owed to satisfy the finance company, plus penalties and fees. That means if it sells for a lot more than was owed... you are entitled to some of that. IF it sells for a lot less... they can still come after you for the difference.

You were late after the 7th... not after the 17th, its when its due... not when late fee's start. Typically four payments late in a row and they can repo almost anywhere (not familiar with GA specifically). That's why some places have weekly payments.

Hello t:

I'd sue them BOTH in small claims court for your loss. I think you might win. Certainly, you'll allay THEIR suit against you for a deficiency balance which they'll surly file.

In these instances, often times they'll sell it to a buddy of theirs for LESS than you owe, because they KNOW that you're on the hook for the balance. That's why you should sue FIRST!

excon

The finance company told me it will be no balance owed on the car on my credit report because the dealership was getting the car back... All my payments were up to date when they took the car... I was 4 days late when they took the car and it was within my 10 day grace period. I only had the car for 5 months

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Originally Posted by tearia1999

The finance company told me it will be no balance owed on the car on my credit report because the dealership was getting the car back...

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Hello again, t:

DON'T believe them.. They already lied to you a couple times, didn't they? Sue 'em!

excon

I agree with excon, Don't believe anything they tell you. Make sure you read the fine print on your contract. Talk to the state banking authority. This sounds like REAL shady dealings. They cannot legally repo your car if the account is up to date.Tell the dealer first thing in the morning that, you will be reporting the finance company AND them to the Consumer Affairs department as frauds and filing suit against them. So they better not sell your car and it IS your car. Then call the finance company and tell them the same thing.

It would be a good idea if you then give them your attorney's name and number and tell them all future dealings should be through your attorney.

Thanks everyone, I will be contacting the proper people first thing tomorrow. I just needed to make sure what they are doing is wrong.

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Originally Posted by tearia1999

Thanks everyone, I will be contacting the proper people first thing tomorrow. I just needed to make sure what they are doing is wrong.

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We can't be sure what they are doing is wrong without reading your contract. But the likelihood is it is.

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Originally Posted by tearia1999

I was told I had a 10 day grace period before accessing late fees.

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Hello again, t:

It would be BETTER if it was written.. Since it wasn't, your payment became LATE one minute after midnight the day AFTER the payment was due. Technically, they had the right to repossess the car that day.

If you can get the person who TOLD you that ON TAPE telling you again, that would be good.

excon

I can show proof I have always paid after the 7th and they never tried repossing the car before... I thought you had to miss 3 payments not a couple of days...

Again, its is what's written into your contract. There is no law about 3 pmts.

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Originally Posted by tearia1999

i can show proof i have always paid after the 7th and they never tried repossing the car before...I thought you had to miss 3 payments not a couple of days...

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Just because they didn't earlier doesn't mean they gave up the right.

They saw a pattern of being late... not a one time "delay in the mail". And not a day or two... but ten days late each time.

Bet if you find the contract it says as much in it.

And remember... its written in legalese... not plain English. There is no room for interpretation in legalese.

So I should'nt file a law suite against them, because I don't have a case

You can give it a try... noone can say you might not win. Can you afford to do it? Might be cheaper to let it go however. You aren't entitled to the "improvements" you might have done. But you are legally entitled to any profits over and above the remaining financed amount after they get their fees. They can't just keep it. Once the finance company is made whole, and they collect their fees if anything is left over that is supposed to be returned to you.

I know someone personally that did repos for banks, he got paid a flat fee per every repo (like $50 usually plus the tow fees for the tow company) . They have to have repo papers before they do it... they don't just snatch cars at random without documentation. It would be grand theft auto without repo papers authorizing it. And papers are specific to each car... with the VIN, last known address, tag number etc.

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Originally Posted by tearia1999

So I should'nt file a law suite against them, because I don't have a case

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We don't know since we don't know what your contract says.

Can I get a copy of the repo papers, if so where can I get a copy from. Because the repo man said it was repoed for my husband having suspeneded license and no insurance, when I have proof there has always been insurance on the car and I have valid license

Try contacting the finance company and ask them, they had to issue them to whomever did the repo for them. But that really won't do you much good... it only absolves the tow company from any liability as it proves they did it in good faith and assures they get the correct vehicle.

But as Scottgem said... it all depends on the actual finance paperwork and how its written. And don't expect it to mean what you think... legalese literally has very specific legal definitions depending on the exact wording. Meant to avoid any broad interpretations.

I received a letter from the finance company stating "our company releases you from any and all obligation, in reference to a retail contract entered into secured by the following vehicle. This contract has been purchased back from our company by the original dealership where you purchased the vehicle. Our company also agrees that we will not report this account as any derogatory credit or repossession the dealership now has possession of the contract."

I've contacted the dealership to ask for my downpaymeny back and the money I spent on repairs and the owner told me they don't give money back and I can not get the car back. Can I sue the dealership for my money and if so do what court do I file in and do I file in my county or the county the dealership is located.

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Originally Posted by tearia1999

I received a letter from the finance company stating "our company releases you from any and all obligation, in reference to a retail contract entered into secured by the following vehicle. This contract has been purchased back from our company by the original dealership where you purchased the vehicle. Our company also agrees that we will not report this account as any derogatory credit or repossession the dealership now has possession of the contract."

I've contacted the dealership to ask for my downpaymeny back and the money I spent on repairs and the owner told me they don't give money back and I can not get the car back. Can I sue the dealership for my money and if so do what court do I file in and do I file in my county or the county the dealership is located.

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No... you are not entitled to that money. Those were forfeited when you went into default.

Count your blessings you are getting off this easily. Attempt a lawsuit... and the dealership can consider this as non-acceptance and you can them be held legally liable for any shortage that results from the repossession... and subject to collection and garnishment to satisfy that debt.

It was not taking for default, they backed out of the finiancing because my husband had suspended license that's why they are not reporting it as a repossession. They wanted me to find someone else to finance it.