Legal Question in Consumer Law in Nebraska
Car Repossession
I just found out that a 2005 car I bought in 2005 was totaled a few months before I bought it and was given a salvage title. The dealer never told me about this and I just found out about this when I went to trade the car for a newer model. The dealer recommended that I let the bank repo the car because it was worth 1/2 of what I owe because it can only be sold as a totaled salvaged car. I would appreciate some advice or help. Thank you! Would this help me in court if the bank seeks the difficiency on the loan...the fact that the dealer lied to me about the quality of the car?
1 Answer from Attorneys
Re: Car Repossession
You received poor advice from the second dealer. Allowing the vehicle to be repossessed will only put you in a worse position. It is not the bank's problem that you are unhappy with the car you purchased. The bank is entitled to payment in full for the loan you requested. If you allow the vehicle to be repossessed, it will ruin your credit and the bank will get a deficiency judgment for the full amount plus attorney fees and court costs. You should make an appointment with a lawyer to see if you have any claims against the dealer who originally sold you the car.
Related Questions & Answers
-
Car problems bought a car from a dealership. on the hour trip home it stalled and... Asked 10/04/07, 1:15 pm in United States Nebraska Consumer Law
-
Refund on repairs I contacted a printer repair company to repair my printer. It... Asked 7/31/07, 11:48 am in United States Nebraska Consumer Law
-
Consumer goods Is there a 30 day return policy on matressess in the state of... Asked 6/23/07, 6:17 pm in United States Nebraska Consumer Law
-
Illegal billing practice? I've been billed by an alarm company for more than 7... Asked 6/21/07, 6:41 pm in United States Nebraska Consumer Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
