van repo
Date: Wed, 10/21/2009 - 16:37
My van got repo'd and we paid the past due balance in full ONE day before public auction. The auction place is now telling us we owe 750.00 in body work done to prepare van for auction! The financing company said once it was reposessed then we have no say and they can pretty much do whatever they want at our expense. Is this true?
I am not a lawyer but this does not sound right?? Does anybody have a backround in this?
Thanks
I am not a lawyer but this does not sound right?? Does anybody have a backround in this?
Thanks
Attorney General. I repo cars once and a while for a small ban
Attorney General.
I repo cars once and a while for a small bank I work at. You need to look at the lending agreement you signed to see what you are resposible for. I have never heard of body work being done and you being charged. Most times cars are sold as is. You would most likely be responsible for the Repo Charges(towing,storage etc) also cleaning/prep of the vehicle for auction. But it sounds like they went way overboard on getting it ready for auction. Banks usually don't like to sink more money into vehicles that they are already losing money on. It seems like thats the downside of having to wait untill the last day before it goes to auciton to pay.