Car Reposession after payment

[Dee4009]

What is the name of your state (only U.S. law)?

I am in the State of Florida and almost finished with my contract with this Auto Finance Company. My question is, can a company continue with a reposession after they have already received a payment, confirmed updated insurance company from the borrower and agreed to the following months payment arrangement. They have followed with reposession on more than one occassion even after I had made payment and recieved confirmation with payment arrangements. I even asked if there was anything else I needed to know. My vehicle was towed just hours later. I received attitude and acknowledgment that I did speak to someone and that payments and arrangements were made however my vehicle was being towed because their staff could not get a hold of me and my updated new insurance they confirmed was not effective until the following morning. Is this legal?

[swalsh411]

If your car has been repossessed more than once then clearly you can't afford this car. It sounds like you wait until the 11th hour and then make a last minute payment hoping to avoid repossession.

Let me put it another way. How far are you behind in payments right now? If the answer is anything greater than 0 then they can take the car back.

[Dee4009]

Payment was already made and I was given confirmation. Next payment date was given to me, 2 hours later my car was towed. As the consumer I'm not concerned about what you enjoy if you are a "Financer". I just would like factual information.

[swalsh411]

You actually think two hours is enough time to stop a repo? The crew get their lists at the beginning of the shift. If your car was on it, they can repo it. Next time don't make your payment at the 11th hour.

[sandyclaus]

Payment was already made and I was given confirmation. Next payment date was given to me, 2 hours later my car was towed. As the consumer I'm not concerned about what you enjoy if you are a "Financer". I just would like factual information.

Ok, here are the facts.

If you are behind at all in your car payments, the finance company can repossess the vehicle. The finance company can collect the payments you make and credit it towards the unpaid balance due.

It doesn't matter if you have just made a less-than-total-outstanding-balance payment. (You're still behind and in default on your finance agreement.)

It doesn't matter if there is a payment arrangement in place for future payments. (You're still behind and in default on your finance agreement. And there is no guarantee that you will actually make that payment, especially if you have broken promises to pay in the past.)

You are lucky they are not demanding the full balance payoff before returning the vehicle to you. Some finance companies CAN and WILL do that. You are lucky that they seem only to be demanding the past due balance and towing costs in order for you to keep redeeming the vehicle.

If your vehicle has been repossessed more than once through the same finance company, I would have to agree - you are simply treading water and making great leaps to resolve the matter only after the finance company takes the car each time. Either find a way to payoff the vehicle once and for all, or plan to be in the same position again in the near future.

"Insanity is doing the same thing, over and over again, and expecting a different outcome."