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Can a person just reposses a car?
I am buying a car from an individual. Basucally I am taking over payments. The car is still in her name but we have a signed written agreements. I received an email today from my university saying I was approved for housing and my $500 deposit is due by 5/23. I emailed the owner asking if I can make the payment for the car with my next check on June 5. I told her I have the money if her answer is no. Now she wants the car back and is refusing to accept paymemt. Can she do this when I havent missed any payments? We both live in VA.
Just to clarify some things: the car may still be in her name but I am making payments just like I would to a dealership. A dealershio couldn't just repossess the car as long as I'm making the payments on time, it should be the same. The car is just as much mine as it is if I were buying it from a dealership. The same rules should apply.
4 Answers
- nascar88gyrlLv 78 years agoFavorite Answer
Stupid Flanders is absolutely correct. You cannot just "take up payments" on an automobile loan. If you want to purchase the car, you need to go to a bank or credit union and get a loan yourself and then make payments to your lender. The car is going to remain in your friend's name, but what is going to happen should you get into an accident with the car? As long as the car is in her name, she is legally responsible for the car. And yes, it doesn't matter if you make every payment to her. She can repossess it at any time. All of your "written agreements" aren't worth the paper they're written on. The car is not "just as much mine as if I were buying it from a dealership". You name is not on any "legal" paperwork to the car. Who's name is on the title? Not yours!
- Stupid FlandersLv 78 years ago
No No No No No. You can't legally do this. You're going to end up getting royally screwed if you don't listen to this.
The agreement of the current car loan is between a lender and this other woman.
There is specific language within their contract that says she can NOT sublease the loan agreement to someone else. It is not her property - it's the lenders property until completely paid off.
Any other 'agreements' of subleasing will be VOID because the overriding contract states as such.
If the lender finds out that this arrangement was made, then they will immediately repossess the car due to breach of contract and you will be out everything you paid into it. You can't sue to enforce your contract with the 'seller' because it was illegal in the first place, making it not enforceable.
In addition, the title and agreement with the lender will still be in this other womans name. when it's paid off, you can't claim ownership based on an illegal agreement.
The only legal way to do this is for you to get approved for your own loan for the amount she owes on the vehicle, have the title transferred to your lender and then you make payments to your lender under your own contract.
- Anonymous8 years ago
Well, you are taking over payments but the car is still in the other persons name. If you pay late, that screws up the other persons credit. I say hide the car and use it and make her come look for it. That will teach her to sublease her car.
