used car contract

[goodpeople]

Your contract seems to have been written by a middle-school student. Perhaps you are paraphrasing?

In any case, you are going to need to work with the dealer to get the title situation corrected.

It looks to be a retail sales contract. I did paraphrase, but didn't leave anything important out. When I say "I promise to have proper insurance" the actual contract starts off saying just that but adds verbage stating physical damage insurance, etc. Those points to add anything to the question.

 

[Zigner]

I'm not sure if I'm asking this the right way. I understand that they want their security interest. I don't mind if they have the security interest. I am making my payment and upholding the terms on my end. If the dealer takes their time to get a duplicate or whatever, I don't want to risk a repossession. I didn't want this to become a matter as to "why" it hasn't happened. Fact is that it has. I don't have the title neither do they. I presume that the previous owner still has ownership of the vehicle (or maybe the dealer)

Again, based on the contract, can they repossess my vehicle

AGAIN - work with the dealer on this. The dealer should be working with GM on the matter, but you would be wise to escalate this at GM too. At this point, it might be possible for them to attempt a repossession, but it's very unlikely if you're meeting all the other terms of the contract and if you maintain communication about the matter.

 

[goodpeople]

Your contract seems to have been written by a middle-school student. Perhaps you are paraphrasing?

In any case, you are going to need to work with the dealer to get the title situation corrected.

hello Zigner

Thank you. I understand that I need to get the situation corrected, but how doesn't that address my question? Again, can they repossess my car?

 

[Zigner]

It looks to be a retail sales contract. I did paraphrase, but didn't leave anything important out. When I say "I promise to have proper insurance" the actual contract starts off saying just that but adds verbage stating physical damage insurance, etc. Those points to add anything to the question.

"I promise to have proper insurance" is actually on the contract? Or, perhaps, does it say something like "I agree to maintain insurance coverage that meets a minimum of ..."? "I promise to ..." is very unprofessional and sounds like a middle-school student wrote it.

 

[goodpeople]

AGAIN - work with the dealer on this. The dealer should be working with GM on the matter, but you would be wise to escalate this at GM too. At this point, it might be possible for them to attempt a repossession, but it's very unlikely if you're meeting all the other terms of the contract and if you maintain communication about the matter.

Okay, we are getting closer. Am I in violation of the contract? I agree with you that this needs to be taken care of. Thank you for that. If they "attempt" a repossession, which I don't want, do I have recourse?

 

[goodpeople]

"I promise to have proper insurance" is actually on the contract? Or, perhaps, does it say something like "I agree to maintain insurance coverage that meets a minimum of ..."? "I promise to ..." is very unprofessional and sounds like a middle-school student wrote it.

I understand that I promise is very unprofessional, but it doesn't change the fact that its on there. I'll give you one section in full. The back starts with "Your other promises to us" and here is the first point: "You promise that you will not sell, lease, or otherwise transfer this vehicle or any interest in it to anyone else without getting written permission from us first."

 

[Zigner]

I understand that I promise is very unprofessional, but it doesn't change the fact that its on there. I'll give you one section in full. The back starts with "Your other promises to us" and here is the first point: "You promise that you will not sell, lease, or otherwise transfer this vehicle or any interest in it to anyone else without getting written permission from us first."

This sounds like a buy-here, pay-here lot.

I'm not going to address the question of repossession beyond what I've already stated because I think it's an exercise that doesn't need to be done just now.

 

[goodpeople]

This sounds like a buy-here, pay-here lot.

I'm not going to address the question of repossession beyond what I've already stated because I think it's an exercise that doesn't need to be done just now.

Okay, thank you, but no, Its a GM dealer with GM financing

 

[Zigner]

Okay, thank you, but no, Its a GM dealer with GM financing

It is the most unprofessional thing I've heard about from a major vehicle retailer. Keep pushing the dealer.

 

[goodpeople]

It is the most unprofessional thing I've heard about from a major vehicle retailer. Keep pushing the dealer.

I will definitely keep pushing the dealer. In the meantime, I'm afraid that someone at GM decides to repossess my vehicle while this is being worked out.

 

[Zigner]

I will definitely keep pushing the dealer. In the meantime, I'm afraid that someone at GM decides to repossess my vehicle while this is being worked out.

You say that your vehicle is in storage...I wouldn't worry about that (not that I think they'd even try)

 

[LdiJ]

I'm not sure if I'm asking this the right way. I understand that they want their security interest. I don't mind if they have the security interest. I am making my payment and upholding the terms on my end. If the dealer takes their time to get a duplicate or whatever, I don't want to risk a repossession. I didn't want this to become a matter as to "why" it hasn't happened. Fact is that it has. I don't have the title neither do they. I presume that the previous owner still has ownership of the vehicle (or maybe the dealer)

Again, based on the contract, can they repossess my vehicle

I would say no, because you are making your payments. I would also say no, because you said it had been stored. They cannot break into somewhere to repo the car. If you are worried about your credit, I don't see how they can report anything negative because again, you are making your payments.

 

[goodpeople]

Thanks again for all the answers.

 

[Zigner]

I would say no, because you are making your payments. I would also say no, because you said it had been stored. They cannot break into somewhere to repo the car. If you are worried about your credit, I don't see how they can report anything negative because again, you are making your payments.

They CAN consider the contract to be in default and due in full. That's one of the reasons why it's so important for the OP to be very diligent about this.