Banking and Finance
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Finance:
If I sell vehicles and take payments but do not charge interest, do I still need a finance license?
Repossessions:
Do I have to wait a specified period of time before I repo a vehicle?
Can I repo my own vehicles or do I need to use a licensed recovery agent/agency?
2007 Repossession Manual
Repossessing vehicles has become a complex process that requires a “How To” manual to make sure that lienholders who repossess their own vehicles know the various steps to follow once a vehicle has been repossessed. The FIADA Repossession Manual provides you with a wealth of information about repossessing, the post repossession process, sample forms and letters, a copy of the applicable Florida Statutes and more. This manual serves as the best source in Florida for an overview of the repossession process that is available to dealers who are lienholders.
If you are a dealer who finances your own retail sales it is important that you follow the repossession and post repossession process accurately. Failure to do so may result in costly lawsuits, even though the customer is in default. Use the FIADA Repossession Manual as your reference guide for the repossession process. Note: the Repossession Manual is not a substitute for legal advice. Lienholders should contact their attorney for answers to repossession questions and legal advice concerning repossession matters.
Members please log in to see the online version of the Repossession Manual.
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