More details to this question:
I purchased a vehicle through mt moriah auto sales from a finance manager named lance huff i put down $1500 he repossessed my vehicle monday 10/8/2018 because my full coverage insurance collapsed when i spoke with him about this he stated that i signed the contract promising to keep full coverage insurance on the vehicle and that in order to get my vehicle back he said that I needed to come up with $500 S4 for repossession and I needed to come up with the 187 for my insurance and I had to pay my car payment of 370 which my car payment isn't due until the 10th of October and I'm trying to contact someone to try and help me to go over my contracts and everything that I signed with them to see if I can get my $1,500 down payment back so someone will please contact me or to refer me to someone who could help me it would be greatly appreciated
1 ANSWER
The only collateral for the loan was the car and if you don't carry insurance and total the car in a wreck, then the dealer won't get paid. That is why you are required to carry insurance. You breached the contract by not having insurance. So the dealer was within his rights to repossess the car.
Answered on Oct 12th, 2018 at 7:30 PM