If i bought financed a Bonneville and I didnt pay the note on it and they couldnt repo it is that considered GRAND LARCENY? This isconcerning my friends situation.

I think it depends on how they 'couldn't repo it.' If this is due to you going out of your way to prevent it.. possibly, yes.

Otherwise, no.. could be blamed on the repo company sucks at spotting cars.


-justin

well it depends if you secured the loan with the car? is it a personal loan or a auto loan?

i dont know if its larceny, but it is shady...

I don't think it would be grand larceny. I can't think of a time I've heard of someone being pulled over for something like that. You'd think if it were a GL, an APB would be put out on the car and you'd get hauled in real quick. But, quite frankly, I've never actually had expereince with this except for the documentaries that Discovery has on every once in a while.

and its not grand larceny

The repo man can be very tricky. How is it that the car is not being taken? I had a friend that stored her car at a family members house. She did file for bankruptcy. When she finally talked to the company that had the car loan they said it had been too long and they didn't want the car. When she filed for Bankruptcy she did not include her car. She stored it for about a year. She was then able to sell it for $1500. I don't think her situation is the norm though.

Overall, I'd say this is a better question to ask a lawyer, as the answer may vary from state to state or even city to city.

But, it is a pretty shady thing to do. A bit of related advice, tho.. I once had a car that it turned out I just could not afford. It needed some repairs, and I had no cash flow at the time. I contacted the finance company and told them to come repo it. I even quit paying my bill, thinking "What they hell, my credit couldn't get any worse". They responded by telling me "Send us 500 bucks, and its yours"...

That'* amazing. How many payments were left?

I don't remember for sure, but it was close to 3 grand left.

BTW, this car was bought through one of them "We finance anybody" lemon lots. So they had probably more than made thier money back....