Hal Rouse: you signed a contract that you own them x amount of money and they will get their money because you owe it to them
Lyman Gauld: You owe whats on paper regardless of value. You established the value when you signed your name.All dealers do not sue. A good chunk never do.All dealers do not report your not paying or your repo. Some do.If you stop paying or take the car back & stop paying....1. the best case scenario....nothing happens or a collection agency bugs you.2. Worst case scenario...the dealer sues, wins and then garnishes your wages to the tune of 25% of your pretax income. And your credit is trashed for 7 years.Your mistake was buying from a BHPH dealer.Ive known BHPH dealers who have never sued a customer or reported on their credit. Ive known one that got his law degree so that he could sue all his deadbeat customers without having to pay an attorney.Almost all of them will probably hand the accounts to a collection agency...for a cut. Costs them! nothing unless they collect. And the collection agency threatens a lot of things that they never follow thru on....Show more
Randa Hessell: why would they sell it at auction ? that is where they buy the cars to start with .... I has no trans ? auction price more like $1000 not $3000. If they are one of the sleazy pay here lots , i very much doubt that they will sue you .
Donte Liversedge: With all due respect, you have no case here. They will sue you (and they will win), obtain a judgment against you, and charge you the difference between what YOU OWE and what they sell it for. This is the problem you're going to have in court. You signed a legally binding contract to pay them a certain amount of money. It makes no difference what the wholesale, retail, or appraised value of the vehicle is. It makes no difference what they can or can't sell it for, or what the perceived or intrinsic value of the car is. You promised to pay a specific amount of money, as s! pecified on the contract, and that's what you owe. The court w! on't even take into consideration the money you spent in repairs on the vehicle. You have no way of proving he was responsible, or had prior knowledge of mechanical issues. The dealer will say "We looked at it, and it ran fine when they bought it", and it will absolve him of any responsibility. He will then accuse you of misuse and abuse, which, of course, he can't prove either. In states where it is allowed, they can garnish your wages for up to 25% of your net (take home) pay. They can also file a tax lien. One way or another, they will get their money. There is no statute of limitations on a judgment, so they will wait as long as they have to. If they report it as a repossession, the repossession will remain on your credit for seven years after it has been paid off. Even if they don't report it as a repossession, your credit report will still reflect the judgment against you.Sorry I don't have better news....Show more
Lue Podewils: That's what I would do. If they h! ave a computer, tell them to go to kbb.com (Kelly Blue Book) and look it up. I got a higher trade in that way.
Nedra Oltz: Unfortunately, you found out too late that these types of "Buy Here...Pay Here" places don't really care about customer satisfaction, only the monthly payments! They will tell you and possibly a judge if it goes that far, that a car is a mechanical piece of equipment. That is why they will never make any guarantee to cover any of their used vehicles. Anything mechanical can break down ( fail ) without any notice at all, and especially a vehicle that may not have had regular maintenance performed on it. This is exactly why you always trade with a reputable dealer that's been in business for awhile, and has many satisfied customers. If you decide to hire an attorney, ( if you can find one to take the case ), you'll just be likely losing even more money. If you can't afford the car payments, how in the world could you ever pay an attorney working for! probably $300 or $400 per hour on your case? You'd have several more t! housand dollars wrapped up in the car with absolutely no guarantee your attorney could win the case. Unfortunately, even if you would get something out of this case, ( the "dealer" may actually get your car repaired at a discount rather than risk a court case ), your credit is ruined for the next several years because of the repossession. At any auction, you never know what any vehicle may sell for. It just depends on the make and model and what dealers are attending the auction that day. Their lots are already full of used cars, so auctions aren't really attractive these days. Sorry this had to happen to you, but like I said, you need to deal only with a reputable dealer! The homework you do on the vehicle you're interested in, and the financing available, is more important than just going shopping for a vehicle like you would a pair of shoes. With a good credit score, good credit history and a solid work history, you should have been able to get a loan at a credit union f! or about 8% to 10% interest rate, and 10% to 15% at a bank. The dealers will get about 18% on up to 24%, and the places like you dealt with usually get 20% up to 30% interest! That's why they make it so easy to buy the vehicle there and pay for it there. They're not worried about your credit score, just the fact that you pay them every month! I hope this works out for you, but be very careful about investing any more money trying to get some satisfaction....Show more
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