|
|
|
|
|
|
Welcome to the Australian Ford Forums forum. You are currently viewing our boards as a guest which gives you limited access to view most discussions and inserts advertising. By joining our free community you will have access to post topics, communicate privately with other members, respond to polls, upload content and access many other special features without post based advertising banners. Registration is simple and absolutely free so please, join our community today! If you have any problems with the registration process or your account login, please contact us. Please Note: All new registrations go through a manual approval queue to keep spammers out. This is checked twice each day so there will be a delay before your registration is activated. |
|
|||||||
| The Pub For General Automotive Related Talk |
|
|
Thread Tools | Display Modes |
04-11-2013, 09:33 PM
|
#1 | ||
|
FF.Com.Au Hardcore
Join Date: Jul 2011
Posts: 4,819
|
I know, I know, another cliche thread, I'm sorry, but I have a specific question that google can't seem to answer for me.....
What happens when a vehicle that has secured finance against it is confiscated permanently? For example a car loan with credit union. Under the terms of most secured loans you are not permitted to sell the vehicle without paying off the loan. How does the law confiscate the vehicle from the rightful owner, namely the financier?? Please don't answer saying that the owner would be required to continue to pay the loan, cause I get that. My question is how can they confiscate the car whilst it is tied to a finance arrangement, possibly eliminating the credit provider's opportunity to recover the money in the event that the owner stops paying the loan? In this case would the confiscated vehicle be returned to the finance provider? Please don't guess, only if you know.... |
||
|
|
| 6 users like this post: |
Question about QLD anti hoon laws
Threaded Mode