Search results
Results from the WOW.Com Content Network
If you owe $12,000 on the loan, for example, and the lender sells your repossessed car for $8,000, the $4,000 difference — as well as any associated fees and costs — are called the deficiency ...
Vehicle immobilization is a key part of the act of impounding.. Vehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, [1] which is a holding place for cars until they are placed back in the control of the owner, recycled for their metal, stripped of their parts at a wrecking yard or auctioned off for the benefit of the impounding agency.
Various objects can be repossessed, including boats and aircraft, but most repossession agencies focus on car repossession. The repo agent normally uses a tow truck or pickup truck with a special towing attachment called a boom. They also may obtain the key from the car owner. Usually, the vehicle owner must be notified of a repossession.
This occurs, for example, when a financial institution repossesses a car on which it holds both the title and a defaulted note. Individuals may resort to self-help when they retrieve property under the unauthorized control of another person or abate nuisances, such as using sandbags and ditches to protect land from flooding.
Ads proclaiming "Government Vehicle Disposal" and "The Repo Joe Sale" are designed to steer buyers to special used car sales events under the pretense they're getting a special deal. But the ...
One way to prove you are able to be financially responsible for an accident is that you could deposit $35,000 cash with the California Department of Motor Vehicles (DMV) or get a $35,000 surety bond.
California v. Acevedo , 500 U.S. 565 (1991), was a decision of the United States Supreme Court , which interpreted the Carroll doctrine to provide one rule to govern all automobile searches. The Court stated, "The police may search an automobile and the containers within it where they have probable cause to believe contraband or evidence is ...
Towing a car as a form of long-distance shipping, such as during its owner's move to a new location, rather than driving the car; Repossession of a car by a lender; As part of impoundment of vehicles by government agencies for infractions involving the vehicle in question, such as unpaid parking or moving violations ("tickets")