Finance Questions

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Question: Repossession of a Car in NJ?

I recently had my car repossessed by American Honda Finance Corporation and was informed that I must pay the full amount of the car in order to have it returned to me. The company is adamant that NJ has a no-reinstatement law and that eventhough I am willing to pay the past due amount and all costs of repossession, they are saying can not do this (pay the past due amount and any fees associated w/repossession). Is this true and is it worth it to seek legal counsel. I was in contact with the repo company to negotiate a payment and they keep telling me I have to go through the Finance Company that I can't deal with them.----I reposted b/c I wanted to provide more clarity. I am looking for advice. Thanks for the help.

Answer: They are correct. NJ is a no-reinstatement state. Not worth counsel. Cut your losses and buy another car...if you can.

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