Moderator: 3ne2nr Mods
RedVEVO wrote:Why you want to know about this ?
You want to take advantage of people ?
lmakaveli wrote:Can anyone give me a list of places that sell repossessed vehicles or used vehicles in Trinidad?
Thanks in advance
RedVEVO wrote:Why you want to know about this ?
You want to take advantage of people ?
linton wrote:RedVEVO wrote:Why you want to know about this ?
You want to take advantage of people ?
For it to be repossessed, the owner already lost it. The finance company is selling to recoup their money. How is this taking advantage?
RedVEVO wrote:linton wrote:RedVEVO wrote:Why you want to know about this ?
You want to take advantage of people ?
For it to be repossessed, the owner already lost it. The finance company is selling to recoup their money. How is this taking advantage?
The finance company i.e. Banks , Finance Sharks etc. gave the owner the "royal up stick" ..
And those people who now look for those sales - lowest of the low ..
RedVEVO wrote:linton wrote:RedVEVO wrote:Why you want to know about this ?
You want to take advantage of people ?
For it to be repossessed, the owner already lost it. The finance company is selling to recoup their money. How is this taking advantage?
The finance company i.e. Banks , Finance Sharks etc. gave the owner the "royal up stick" ..
And those people who now look for those sales - lowest of the low ..
RedVEVO wrote:Why you want to know about this ?
You want to take advantage of people ?
supercharged turbo wrote:If you buy a vehicle from someone and then the bank comes asking for their vehicle because the previous owner didn't pay off their loan,what would be your situation?
supercharged turbo wrote:If you buy a vehicle from someone and then the bank comes asking for their vehicle because the previous owner didn't pay off their loan,what would be your situation?
Who does a search like that...credit chex?Kenjo wrote:supercharged turbo wrote:If you buy a vehicle from someone and then the bank comes asking for their vehicle because the previous owner didn't pay off their loan,what would be your situation?
You basically lose the most . Generally a search should be done on all vehicles but people get caught out especially when they buy vehicles cash and don’t spend that extra money for proper inspection and a search for any loans on the vehicle . Even if you want to pay off what they owe it’s still and entire headache of paperwork and you will surely lose the car for quite a while
As soon as they sell you it,they probably done block you.Can the vehicle be transferred or does the bank/credit union hold the title until it is paid off?88sins wrote:supercharged turbo wrote:If you buy a vehicle from someone and then the bank comes asking for their vehicle because the previous owner didn't pay off their loan,what would be your situation?
If they didn't pay off the vehicle loan, they ain't gonna ask you for it, they gonna send someone to take it.
If that ever happens, you can proceed to recover your money from the mortgagee who sold it to you. I'd strongly suggest you ontact the police immediately, because the type of people that would sell a car that they didn't pay off for is also the type of a--hole that would disappear as soon as you contact them and demand your money back.
lmakaveli wrote:Can anyone give me a list of places that sell repossessed vehicles or used vehicles in Trinidad?
Thanks in advance
daring dragoon wrote:lmakaveli wrote:Can anyone give me a list of places that sell repossessed vehicles or used vehicles in Trinidad?
Thanks in advance
eh buy a used instead of a repo vehicle. i sure the owner go real cry on that vehicle and u dont want yr family in a car that heavy from the precious owner..i know a could people that get repo and they nasty tings they say about he bank and the next man to buy that car what go happen to he i will never buy a repo car.
88sins wrote:Vehicle can be transferred at LO, but that makes no difference since you still won't be the legal owner of it. The mortgage company will still retain legal title to it until the debt is settled and you get a letter of non interest in said vehicle from them and a deed of mortgage release is filed.
ProtonPowder wrote:The powers of sale and of distress... ...be conferred upon and be exercisable by the mortgagee without any restriction... ...whenever there shall be any other breach or non-observance of ant of the covenants conditions provisions or agreements herein contained.
Taken from a random old TTMF deed i worked with some time back. Applies to anything that can be mortgaged.
Is funny because mortgages contain restrictions down to the types of pets you can keep in the mortgaged property.
The pet covenant is typical in the case of a condominium.88sins wrote:ProtonPowder wrote:The powers of sale and of distress... ...be conferred upon and be exercisable by the mortgagee without any restriction... ...whenever there shall be any other breach or non-observance of ant of the covenants conditions provisions or agreements herein contained.
Taken from a random old TTMF deed i worked with some time back. Applies to anything that can be mortgaged.
Is funny because mortgages contain restrictions down to the types of pets you can keep in the mortgaged property.
Not really
A mortgage can contain provisions for any condition or situation that the lender may see as pertinent to securing their investment. It all depends on who is the lender and who is preparing the document. It have some attorneys that are real sticklers for minutia.
The pets/livestock provision in some mortgages is because some people want to mind livestock in residential homes and that may significantly reduce the value of the asset.