Vehicle Repossession Laws
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Posted by Why Chat (209.240.198.61) on November 22, 2002 at 14:45:43:
In Reply to: prepo in CA posted by anon on November 22, 2002 at 09:45:26:
The law you cited is for chattel mortgages, (like furniture and appliances) it does not apply to motor vehicles. The motor vehicle repossession laws would be found under the parts of the Cal. code that deals with motor vehicle financing. If you go to my website, under Misc. Legal Stuff is a link o Auto Reo Laws. That will give you a better idea of what is what. In general, if a car is repossessed LEGALLY and all required notices are given, then the deficiency created at the resale IS collectible. There is generally a 2 year period (SOL) for legal action to be filed on the deficiency,some States may have a shorter period.
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