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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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Discussion Starter #11
Hey acsmith, how'd you ever make out with your RAV?
lol on the bump. I still have it. Chase doesn't seem all that interested in getting it. I thought about calling them about it, I really want to, because at some point I'm going to want to get rid of it and might be stuck with it. I've read you can force them to take it under chapter 7, but I'm trying to avoid doing that to my credit. I have always been curious how well it goes through streams.....I've also heard anecdotally, that if you take it to a mechanic and have work done then refuse to pay they can put a mechanic's lien on it. They then ask the bank to pay for the repairs and if they refuse they sell the car, recoup their losses and send the balance to the bank. That might be a way to get rid of it. Right now I kind of need it for work for UberEats, DoorDash, Postmates, and eventually passengers again.

But it needs some work. A rock hit the condenser last summer, so it has a hole in it. I used that Walmart AC stuff with the sealer, which for $10 actually worked for a while. It'd get me about two weeks of using the AC before it all leaked out again. Winter I haven't needed it much. I tried it a few times the last two weeks when it was warm and it still comes on. Originally I thought my compressor was broken and that's more work than I want to do. The condenser looks like a 5 minute repair after spending probably an hour taking the bumper off. I did that once, it wasn't fun, broke all the clips, had to drill out two screws in the front. I actually have wire holding it on the sides by the wheel well and for the two screws I drilled out at the top of the hood. I have new clips, but I think I need another part also on both sides. If I decide to fix that I'll get the other parts from Rock Auto.

I still haven't changed my struts. The new ones along with the sway bar links have been sitting on my garage floor for two years now. I can't get the old sway bar links off and haven't decided if I want to use my angle grinder to cut them off or not. I need to change my discs and pads in the next few weeks, so I might do it then. Other than that I just need to do my rear shocks at some point, but I might let the shop do that. I watched a girl do it in a video on youtube and it looked easy enough, but then I sat in front of it and was like, "Wait, what?". Or I might watch the videos a few more times and try it. I'm just scared to do anything that might require getting it towed. I have free towing up to 25 miles with my Uber Pro status, but I don't want to have to use it like that.

But it still runs fine overall.
 

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Discussion Starter #12
208,000 miles on it now =) I just changed the oil the other day, full synthetic, and I replaced an o2 sensor a few weeks ago.
 

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Maybe the bank just wrote off your loan and the car is yours!
But you'd need the title to sell the car. May as well use it ALA possible.
 

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But you'd need the title to sell the car. May as well use it ALA possible.
In New York, when you have a car loan, you still held the title, only it listed the loan as a lien on the back. You're right though, if you sell it, you'd need a lien release letter. Good luck to acsmith getting that!
I agree, just drive it till it dies!
 

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In CT, acsmith's and my state, DMV sends the title to the lender who holds it until the lien is satisfied. They then mail it to the owner with the lien signed off.

With the CV-19 moratorium on repos currently in effect, what I wonder is how many folks who could make payments won't with the hope they'll somehow slip thru the cracks when this is all over.
 

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I would like to have a new RAV but the dealer have some awful lease offers that will give me a 10000 mile limit per year and this is not enough for me. More than that, the payment debt is too high. To cut it short, I have the biggest part of the money that I need for this car, but I thought it would be nice for me to have a lease and will not lose them all at once. But now, I will go for a credit and I will buy a CR-V from the dealer. I found a great credit offer from a well known credit company https://credit-10.com/nl/persoonlijke-lening/. So, if you are struggling through the same issues as I do, now you know what can help you
 

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Discussion Starter #19
Where can I have a good loan. I want to buy a car but I am looking for the best offer. BTW I want to buy a brand new RAV
If I were in the market for new I'd go with the CR-V hybrid. Honda pays more attention to details now and their cars are rated better. The Toyota's still a great choice, but every model they have Honda has one better.
 

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