Truck was repossessed...what to do?

Sorry to hear this happened. I’d let it go and move on. It’s a rusted used truck with quite a few miles and it’s never good to keep something like this for sentimental reasons, JMHO

 

Go talk to the bank. They can help you more than we can.

 

Ask the Bank,asking here is pointless.

 

Find out exactly what the total buy back fee would be. Probably not worth it if its $5k or more. Put that towards a newer Taco with less miles and no frame rust.
Sorry for your loss

 

Sorry for your loss.

Just want to chime in to say while it's difficult you have to recognize things vs feelings. Being sentimental is usually not financially wise and in the end you'll always have memories and experiences. So ask the bank about the buy-back if you want but keep your wits. You didn't pay anything for the truck and unless you were thinking about buying one it may be fine to let it go, too. Chalk it up to learning about keeping your affairs in order for those surviving you.

 

Wise words.

 

Explain it all to the bank and offer them 3k cash. They might say "f it" and be done with it.
I've seen something similar before.

 

No reason for this reply...

 

Call the bank, advise the loan holder is deseased and family had no knowledge of a lien, as they had no reason to be looking for a title at the moment. Because you'd overlooked the need to transfer that in the midst of dealing with more pressing estate issues.

Ask what next steps would be. Then quit talking.

What you what to hear is the full terms and conditions to straighten out the 'estate'. If they work with you and its palatable, get written confirmation of everything, then start working thru the process.

If you decide its too much $ for the condition of the truck, thank them for their time and let them keep it. Send them a copy of the death certificate so that its very clear any finacial dings are not yours. Do that via registered mail with receipt, in case they screw up and your record gets hit.

Remember, you're not out any actual cash if it goes. Maybe the street value of the truck and a bit of sentimental value. Which would greatly diminish with a frame failure.

The lesson here for all of us, even the young, is to have your affairs in reasonable order, as you never know 'when'. Its hard enough for those left to deal with an organized estate and grieving, but its a train wreck when a paperwork nightmare is your legacy.

OP, sorry for your loss and these difficulties.

 

Good idea! The bank will end up selling the truck for pennies on the dollar. You might be able to settle this for a decent price.

 

In the end if things don't work out , pick up another truck and built one in memory of your dad .
Hope things work out for the best .

 

Only you can decide. Sentimental value goes a very long way with some people. At ~$5K, and if it is your only vehicle, if it's in good shape and you like it, I'd say give the bank a call. Explain your situation to them not as a sob story but just like you did here, and see what they say. You may get surprised and the person let you buy the truck for less than was owed.

Sorry to hear about your loss, and losing the truck too. Hope it works out for you!

 

Sorry for your loss .In the end if things don't work out , pick up another truck and built one in memory of your dad .
Hope things work out for the best .

 

Any updates OP?

 

Spoke to the lender today and yeah they are out of their mind. They want almost 10k for the vehicle .I told the person(s) I spoke with because I talked to more than one you realize that truck has 180000 miles and will probably go at auction for maybe 3,000 and that's on the high end.

Basically they didn't give one shit. I hope when it's sold and the frame snaps no one is hurt.

 

wow...theres a property next to mine that the county owns and they are pulling the same crap.

 

Just have the estate pay off the loan. And lack of will... That would be his wife. Estate owns truck and gives to you. Easy peasy.

 

Thats why I said asking here on TW was a waste of time,until AFTER you have talked with the Bank,since they own the truck and its there choice to deal with you.
To bad the Bank were such dicks about it,since it was your dad's truck,typical Bank attitude.

 

There is no estate and nothing they can attach to .Made that pretty clear to them as well.

I appreciate you all for the advice and just providing a place to rant and talk it through .

I have a few friends who keep on auctions I may just see about that as an option

 

Not really on the bank's side, but they hear sob stories with every repo and most of them are lies, so of course they are not going to believe it or care.