Repossession.

[dusred]

My question is do you think it's wrong to swap out parts on a car that's about to be repossessed? Lets say there is a vehicle with some nice leather seats thats going to be repossessed and you have cloth ones in yours and you swap them so the repossessers get the cloth ones. Do you think this is wrong?

[Dattebayo]

WTF? Are you serious?

[93coupe]

Stealing is always wrong.

[dusred]

Stealing is always wrong.

It's not exactly stealing you see. . . because when it's done the vehicle still belongs to it's owner so he can do what he want's with it. I'm talking about small downgrades. I don't mean removing the engine and trans and stripping the vehicle down to nothing I'm just talking simple downgrades.

edit

On another note the finance company auctions your vehicle off and they sue you for the difference so in reality you would be paying anyway.

[93coupe]

Stealing is always wrong.

There are no gray areas to thievery.

[C-Kwik]

I don't think there is anything inherently illegal about it. However, if I understand repos correctly, when the vehicle gets auctioned off, the amount the vehicle auctions off for, less fees, gets applied back to the principle of the loan. If the swapped out equipment affects this selling price, then it could affect the unpaid principle amount, and perhaps subsequently, a person's credit rating. I'm not sure to what extent the latter would be true, but the whole thing predicates on if the car's selling price at auction is applied to the loan principle or not.

Personally, I think its lame. It one thing to take back stuff you did to it, but another to turn the car into a lesser car than the collateral was.

[dusred]

Well, it seems kinda shady. The reason I'm asking is I have a co-worker who is getting his vehicle repo'd and he was wondering if I wanted to swap some parts. I personally like to work for the stuff I get so I'm hesitating. However, if I say no he may be offended that I refused a gift - a gift that I am in great need of at that.

[Repo Man]

You're reducing the value of the car. YES, it IS wrong and you're screwing your buddy because that car will get sold at an auction and he will be responsible for the balance when the car is sold for less than his payoff.

[Dattebayo]

The foreknowledge of it's repossession makes it wrong. You know it might get taken so you purposely switch out seats?

On the other hand, you can't help it if your buddy is stupid. Taking advantage of him could be wrong also, but he is offering...

[dusred]

The seat thing was just an example. My seats are fine.

I'll probably refuse the offer just because I like to think of myself an honest person. But I was kindof curious to see how everyone else felt about it.

[Dattebayo]

The seat thing was just an example. My seats are fine.

[Solar_Runner]

I think its wrong. I've seen several people over the course of many years pull stuff like that - or worse. They'd tear the crap out of "their" cars just before the bank took it back.

As if the bank was to blame cuz little Johnny couldn't pay his bills anymore. But, little Johnny did manage to put $4,500 worth of after market parts on his ride.

[HashiriyaS14]

More to the point is....why this question?

Something of yours getting repo'd?

[Dattebayo]

More to the point is....why this question?

Something of yours getting repo'd?

7 posts up, your answer awaits.

[fiznowler]

I have switched seats out of a totalled car before but the insurance guy told us to just make sure there was something there to replace it. So my brothers delsol went to salvage smashed to hell with lincoln seats. Repo I would consider it totally different.

[Alfador]

^

I too would consider those to be different circumstances. A Repo car is a car that belongs to someone. Essentially it is being remitted as collateral. If you take something out of that, something that is a part of the car you didn't add, and you know it is going to get repossessed, I don't see that as any different than theft or fraud.

If a car is just getting totaled, insurance companies are usually less worried about it because most of the time the goal with a total loss is to recover and recycle raw materials anyway.

[f1seb]

If you do this then you're no better than the scum who break into peoples cars and steal parts or the cars themselves.

[Jesda]

No, its not. The law says anything attached to the vehicle is theirs. If you added a spoiler, subs, stereo, or flux capacitor, youre SOL. It works both ways -- you should take out your seats if you have cheaper ones to swap in.

Youre making up the difference at auction time anyway.

[Zydeco]

If you do this then you're no better than the scum who break into peoples cars and steal parts or the cars themselves.

Or Leroy brown who like to get free tires.

[szh]

There are no gray areas to thievery.

Exactly right.

Z

[Jesda]

There are no gray areas to thievery.

Exactly. According to most state laws, its not "theft" until the vehicle is in possession of the lien holder or their agent.

[Bubba1]

My question is do you think it's wrong to swap out parts on a car that's about to be repossessed? Lets say there is a vehicle with some nice leather seats thats going to be repossessed and you have cloth ones in yours and you swap them so the repossessers get the cloth ones. Do you think this is wrong?

Are you talking about your own car or someone else's. IF it's your car, you should be able to remove any stuff you added after taking delivery, and putting the original stuff back, like radio's or custom wheels. The lender is expecting the car back with the equipment it was sold with. If you're replacing seats with less than what it was sold with, you are assuming the risk of getting caught and getting charged for it. You'll also end up owing more if the car sells for less as a result of your switch. But if it's not your car, your friend assumes that risk and extra cost. Personally I would not subject a friend to that kind of risk.

[Jesda]

Are you talking about your own car or someone else's. IF it's your car, you should be able to remove any stuff you added after taking delivery, and putting the original stuff back, like radio's or custom wheels. The lender is expecting the car back with the equipment it was sold with. If you're replacing seats with less than what it was sold with, you are assuming the risk of getting caught and getting charged for it. But if it's not your car, your friend assumes that risk. Personally I would not subject a friend to that kind of risk.

You're not going to get charged for anything outside of the settlement amount. It would be wise to make sure it HAS seats so it can be auctioned off. The less it sells for, the more you owe.