Legal Question in Credit and Debt Law in Texas
car reposession
My son & I went to Nissan of Mckinney try to buy a car with the trade in. But the salesman told us just let the car repossession and bough the car. I have told him we have to pay them if they repossession the car he said no. Please advise
2 Answers from Attorneys
Re: car reposession
Don't rely upon the legal advice of a used car saleman and I won't try to sell you a car. Repossession is extremely expensive to you and ruins your credit. Go to another car dealer or keep the car you have until you pay for it.
Re: car reposession
You are responsible for the entire contract price on a car you purchase. If the car is repossessed, they will sell the car, apply the proceeds to the debt and then you are responsible for the difference. Plus, you will have a repossession on your credit report. Do not do this.
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