When your car is repossessed and you get another car that is financed, can the financial institution that repo'd the original car take the second car if it is financed through another financial institution or a buy here/pay here dealership? I know if the second car is paid for they may take it to help pay off the loan on the original car. But can they legally take another car that has a lien against it by another bank, etc.?
Thanks for the answers so far and the info for loans. I can get a loan a few different places..I've checked a few already. As far as why I may have a repo...I have a disease there is no cure for and am on Disability with no chance of me being able to work again. My finance co. refuses to re-fi the loan to make it more affordable to me and what I was making working is alot more than what I am getting on disability. I had no issues making payments up until then...I am NOT a deadbeat....just have a disease and cannot work so am having financial issues.
Thanks for the answers so far and the info for loans. I can get a loan a few different places..I've checked a few already. As far as why I may have a repo...I have a disease there is no cure for and am on Disability with no chance of me being able to work again. My finance co. refuses to re-fi the loan to make it more affordable to me and what I was making working is alot more than what I am getting on disability. I had no issues making payments up until then...I am NOT a deadbeat....just have a disease and cannot work so am having financial issues.