SOL on financed vehicle
Date: Thu, 01/07/2010 - 17:12
Does anyone know what the SOL would fall under in Massachusetts? I know leased vehicles fall under UCC laws and have a SOL of 4 years. Do financed vehicles fall under UCC laws for sales contract? If it does, that would have a SOL of 4 years also.
Aren't auto loans considered as written contracts? The statute o
Aren't auto loans considered as written contracts? The statute of limitation on a written contract is six years in MA.
SOL would fall under the UCC of 4 years. The clock would start
SOL would fall under the UCC of 4 years. The clock would start ticking once the repo'd vehicle is sold at auction and a deficiency balance remains.
Probably SC but there are the sub laws, UCC, that not too many p
Probably SC but there are the sub laws, UCC, that not too many people know about and if under the right condition, you can get a lower SOL. Same goes for a leased car. Most people would think 6 years but if you look under the UCC laws for leases, it is 4 years.
