Update on my situation (Repo)

[RedJewelrsss32]

Sorry about your loss Glad GMAC worked with you. You'll be back in another soon.

[GaryTucker]

Originally Posted by talwell

No refund for extended warranty - just whoever gets your car next will get it with the car.

Not necessarily true depending on state laws and also depending on which warranty it is. Get out your warranty contract and find the termination section. If you can't find details on the contract...contact the selling dealer or call the warranty company direct. There may be a few bucks to salvage here.

I once got a $750 refund on an unexpired warranty as I didn't have any claims on it when I sold the car.

[GaryTucker]

Originally Posted by Hicompression

I wonder how bad the tow company damaged it when they repoe'd it out of your driveway.

Probably not at all as they can be held liable for any damages. Repoing is quite a bit different than just towing a misparked car. The guys towing a car that is in violation for parking or is abandoned don't have as much to worry about as they are on a blanket contract. The repo man is only paid for each car he or she gets. I've had friends in the business and I can tell you that they babied each vehicle as much as possible due to not wanting to eat the damage.

[1sickss]

could get gap insurance back if u did it???

[two_wheel_mayhem]

You did good.

[coolman]

Originally Posted by 1sickss

could get gap insurance back if u did it???

He didn't have a gap. They gave him more than what he owed plus.

[Partick]

Glad it got settled, can't really say it worked out good for you but your credit is intact. I agree with the others pay cash for something you can drive the wheels off of until things get better. Good luck!

[Oldrocker]

Originally Posted by GaryTucker

Probably not at all as they can be held liable for any damages. Repoing is quite a bit different than just towing a misparked car. The guys towing a car that is in violation for parking or is abandoned don't have as much to worry about as they are on a blanket contract. The repo man is only paid for each car he or she gets. I've had friends in the business and I can tell you that they babied each vehicle as much as possible due to not wanting to eat the damage.

Things have sure changed in the repo business. I used to repo and some damage happened, it was just part of the job. The job can turn volatile at any time, I wouldn't risk my life just to take extra time to not scratch or dent the bumper, the quicker the pick up, the better. When I was repoing the bank would sell the cars cheap and tag the customer with the balance due. Also there would be no way to prove that the damage was caused by the repo, it could have already been there, so I can't see any way that the bank can hold the repo man liable for any damage.

[SWHCPA]

Originally Posted by fastball

But try not to lease - complete waste of money. You get nothing in return.

I'll disagree here. You will end up with $-0- in the asset column; but, you'll have your credit rating and cash flow situation stabilized and improved. Leasing isn't for most; however, it can really be used to your advantage when you need it.

Good luck~!

[lee]

Originally Posted by talwell

No refund for extended warranty - just whoever gets your car next will get it with the car.

i just got around 800 back for the vehicle i traded in for the camaro

[lee]

Originally Posted by Oldrocker

so I can't see any way that the bank can hold the repo man liable for any damage.

i used to repo and the only time we were held liable was when the debtor was getting the car back, if the car was going to the auction it was ok if it was messed up

[IROCanSS]

Originally Posted by lordfriday2

lost my butt on the trade in cut ... does anyone know if i can get more money if they cancel the extended warantee I bought with the car?

Originally Posted by talwell

No refund for extended warranty - just whoever gets your car next will get it with the car.

It has been stated but you can for sure cancel the extended warranty and get back the prorated balance. It does not transfer, all that will transfer is balance of factory warranty. It is up to the next buyer to purchase the extended warranty. It is likely an X month limited warranty, meaning limited to you. I have done it a few times. Just contact the warranty company and they will give you the details.

Glad everything worked out for you. Look at the lost money as a lesson learned...

[lee]

i faxed the dealer a copy of a paper saying the car was paid off and they did all the footwork with the extended warrenty company and within a week i got my extended warrenty and like a credit life or something

[tjd24]

Originally Posted by jrhaus76

It has been stated but you can for sure cancel the extended warranty and get back the prorated balance. It does not transfer, all that will transfer is balance of factory warranty. It is up to the next buyer to purchase the extended warranty. It is likely an X month limited warranty, meaning limited to you. I have done it a few times. Just contact the warranty company and they will give you the details.

Glad everything worked out for you. Look at the lost money as a lesson learned...

Check your extended warranty for the details on cancellation and pro-ration if beyond 60 days from original purchase - here's a link to the GM Protection Plan document as of 2008 - http://www.gmprotectionplan.com/obje...guage%2008.pdf