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Discussion Starter #1
It's my fault, I was behind three payments. But they said they were going to repossess it unless I paid the full balance: $9,000. I told them to get it. Better to have them sell it and owe a fraction. Anyway, four months later they never showed up. I called back in September and they swore someone was looking for it. I told them, no, not possible, it's been there every day. So either the tow truck driver is stupid or they're not looking. Book on trade is around $6,000, retail is like $9,000. Think maybe it's just not worth their time?

And if so, how do I get rid of it? Does the mechanic's lien trick work?
 

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As my Dad always said when dealing with large organization: "Go to the head not the ass". Is the "they" you refer to at least a supervisor? I never heard of a bank giving anything away.

:)
 

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Why not take it to a Toyota dealer and see if they will make a cash offer for it. A lot of Toyota dealers want good used vehicles on their lots. If you get a decent offer, call Chase and tell them you will pay a chunk toward the loan since you found a buyer. That way they don't have to pay repo fees. It might even help to preserve your credit. My guess is that Chase probably has provided your VIN to all dealers and if you try to sell it, the repo is done by the dealer right on the spot. It is not unusual in this modern day of easily accessible data bases.
 

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acsmith, I'm not sure of the legal ramifications of something like this, but I'm not sure you could even sell it now as they probably have a lien against the title.
I agree with DL175, make arrangements to turn it in. Perhaps it would be as simple as driving to the nearest Chase location, park it and take the plates off. Go inside and see a loan officer, drop the keys and the title on his desk and tell him to have a nice day!
 

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Why not take it to a Toyota dealer and see if they will make a cash offer for it. A lot of Toyota dealers want good used vehicles on their lots. If you get a decent offer, call Chase and tell them you will pay a chunk toward the loan since you found a buyer. That way they don't have to pay repo fees. It might even help to preserve your credit. My guess is that Chase probably has provided your VIN to all dealers and if you try to sell it, the repo is done by the dealer right on the spot. It is not unusual in this modern day of easily accessible data bases.
Chances are the dealer will look at the owners registration and see the name of Chase on it. The dealer will catch it and will decline. It is better not make to make matter worse as they can go after your bank account or assets.
 

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Discussion Starter #8
Why not take it to a Toyota dealer and see if they will make a cash offer for it. A lot of Toyota dealers want good used vehicles on their lots. If you get a decent offer, call Chase and tell them you will pay a chunk toward the loan since you found a buyer. That way they don't have to pay repo fees. It might even help to preserve your credit. My guess is that Chase probably has provided your VIN to all dealers and if you try to sell it, the repo is done by the dealer right on the spot. It is not unusual in this modern day of easily accessible data bases.
Dealerships don't do repossessions for them.
 

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Discussion Starter #9
acsmith, I'm not sure of the legal ramifications of something like this, but I'm not sure you could even sell it now as they probably have a lien against the title.
I agree with DL175, make arrangements to turn it in. Perhaps it would be as simple as driving to the nearest Chase location, park it and take the plates off. Go inside and see a loan officer, drop the keys and the title on his desk and tell him to have a nice day!
I've heard of this idea before, but not anyone who's actually done it. Supposedly, if they don't take it you're still responsible for it and they can have it towed to a lot and have you rack up storage fees.
 
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