Car Repo Info

[danaf]

I decided to let my car go back after my bk. I didn't want to pay anymore.

It took the bank 3 mos to repo. Guy that came was super nice.

He told me about this new deal where people can get $$$ for dropping off their cars which I would have done had I known about it. To the tune of 2-300 bucks, I thought I'd share with this site. Go to repoyourcar.com to check it out.

Also, people probably already know this but you might be able to get back some of your car registration $$$ if you turn in your plates. I'm headed to DMV this am for this reason.

[kenshirley]

Most states you can get your registration money back via the online sites.
And in CA a repo agent if that's what was used must hold the car for 15 days for you to have a chance to makes amends with the bank.
That was the law anyway a few years back, my Father was a dealer.
The agent that does the repo has his expenses of course and then he must store the car too a he is allowed to charge for that too.
Yes turning the car in voluntarily saves you money and you can waive the 15 days with the lender saving you money.
In CA at one time a dealer or lender could do their own repos. Here in AZ the banks cannot do their own repos by law I am told. That makes the fees more for the buyer.
If you are filing a BK it does not matter as the lender will have to pay the fees to the agent to get a car anyway.
The bottom line is that until the repo agent is paid his fees for expenses and storage nobody gets anything. The bank will have to pay these fees to get the car released so they get their security back so they can sell it.