Finance company wont take car back?
My mother purchased a car about 6 months ago. The used car lot took her for a ride. The car was worth about 00 but they ended up charging her over 00 with interest. She has made the 0 payments for the past 6 months but can no longer do that. She called the finance company and told them they could come and pick up the car as she cant make the payment any more. At first the finance company said they would pick it up within 48 hours. Then they called back a few hours later and told her the car was not worth picking up but that she still had to make the payments.
My question is how does she abandon the car. Can she just turn it over to a junk yard. She does not have the pink slip. The car is a 1996 mini van that has a book value of 0. Also my mother does not care about her credit record as she is 85.
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3 comments
Autoparts Autoparts on November 28, 2010 at 8:33 am
AutoPartsLocator.com offers a great variety of used automotive parts, auto body parts, engines, transmissions and truck accessories. We have a huge network of junkyards, recyclers, salvage yards and dealers of used car parts.
Rebecca on November 28, 2010 at 8:33 am
I don’t know if this will help you or not, but after I lost my job I took my car back to the dealership I bought in from and turned in my tag myself to the DMV. I would recommend taking the car to the finance company and leaving it there, I believe you can get in a lot of trouble if you take the car to the junkyard.
peter on November 28, 2010 at 8:33 am
Your mother may take the car to the auction and see what see can get.She has a contract with the finance company, and they will not let that go. she may have to buy out the contract
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