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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.
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 ...
If you sold a handful of personal items at a garage sale (or via eBay or another online auction site) you don't have to report this income on your taxes. So long as this is something you're not ...
Usually, the vehicle owner must be notified of a repossession. The repossession agent will find the car and check its information such as the vehicle identification number (VIN) to make sure they have the right vehicle. If there is a match, they will attempt to hook up the car to the tow truck and tow it away or pick the lock and drive it away.
The debtor is in debt $10K to the secured creditor and $2000 to the unsecured creditors. Assume the debtor defaults and his only asset is the automobile. The dealership can repossess the auto and sell it to satisfy its debt. Two things can happen here: 1) The dealership sells the collateral (car) for more than the amount of the debt (let's say ...
Garage sale in northern California Diverse items bought at a moving sale held in Boise, Idaho. A garage sale (also known as a yard sale, tag sale, moving sale and by many other names [1]) is an informal event for the sale of used goods by private individuals, in which sellers are not required to obtain business licenses or collect sales tax (though, in some jurisdictions, a permit may be ...
EVs are hot in California. California is crucial for Tesla’s business since the EV share of the state's new car market at 21.4% is nearly three times the U.S. average of 7.5% in 2023.
The first act regulating the use of automobiles for safety reasons in California was established by the Vehicle Act of 1915. [6] The provisions of the first Vehicle Act relating to the department went into effect 90 days after the close of that legislative session. The department of Motor Vehicles was within the Department of Finance in 1921.