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Ask Barrister Your Own Question
Barrister, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 33191
Experience:  Attorney with 15 years experience in various consumer protection areas
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My daughter financed a car from a quack dealer around the

Customer Question

my daughter financed a car from a quack dealer around the corner. NOWHERE on the purchase agreement, does it state they have the right to repo the car, or charge fees for such. She is 19, has no credit- and this man didn't even run her credit...he just gave her the car after the down payment, with agreements of $128/monthly payments with 15% interest. more like a loan shark. Tonight he had a repo team come and take her car for being one month behind, when his office is usually closed- VERY DIFFICULT to make the payments here. The one man introduced himself like a police officer, and even had on a police shirt, and a badge around a chain...stating to be detective Harris. I am concerned- this guy has BAD BAD reviews, and legally - what are the options for us here??
Submitted: 6 months ago.
Category: Consumer Protection Law
Expert:  Barrister replied 6 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.


I am sorry to hear that daughter got mixed up with a shady car sale. Unfortunately, if she was behind on her payments by even a day, the dealer has the legal right to repo the car, sell it at auction, and then sue her for the balance due if it doesn't sell for enough to pay it off.


At this point, if she is able to make all the back payments and pay for any repo costs, she can ask the lender to reinstate the car loan by allowing her to make just the back payments and costs. However, once the loan is in default and the car has been repossessed, the lender usually accelerates the loan. Accelerating the loan means requiring you to pay the entire loan plus the costs of the repossession.


So her options are very limited here... She can see if the lender will agree to a cancellation where she just walks away. She can see if the lender will reinstate the loan if she can pay up what is due, or she will have to try and refinance elsewhere to pay them off to avoid them selling the car at auction and possibly suing her for a deficiency.


They have to send her a notice of redemption 10 days before any proposed sale notifying her that if she can pay it off entirely, she can redeem the car. But the right of redemption lasts until the car is actually sold so if she got an alternate lender she could go and bid on it.


I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...





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