What is the difference between two way and one way security systems in car alarms?

Need some advice on sticky car situation? Or just want to know what comes next?

• Sorry it's really complicated, so it's kind of a long story. I'll try to make it short. My boyfriend's dad has a tendency to make poor decisions and his mom has passed away. He's 20. His dad bought him a car two years ago for $30,000, but my boyfriend's name is not on the loan. His dad had one repossession beforehand and the interest rate on the car was unbelievably high. Since then he has had another repo and lots of late/unpaid bills. We were in a car accident last month. He thought he was fully insured but it turns out the policy was canceled because his dad stopped making payments on it. The car is now worth $20,000. The damage is estimated at $14,000. There is still $24,000 owed on the car. Because it was not legally his car, and his dad was the one who messed up on the payments, my boyfriend has decided to let the bank repo his car as well. My boyfriend couldn't afford the repair cost even if he wanted to, and the payments are way too high. Before he was able to contact the bank about it, the car was towed from our apartment complex. They have a policy that if it's not picked up in 72 days, the car is sold and the towing company retains all the money. My question is... What do we do now? What's the next step to take and the best way to handle the situation? If the car is sold by the towing company, is this going to cause an issue with the bank? And if the car is able to be given to the bank, do they just sell it damaged to try to cut their losses? And does my boyfriend's dad owe the difference? My boyfriend actually lives with me now, in a different city than where his dad is. Are we responsible for contacting the bank and telling them where the car is at? Or do they just come for it after enough missed payments? If they come for it and the towing company has already sold it... what happens? Do they just work that out with the towing company? I reposted this earlier but only 2 people answered and they seemed to misunderstand the question. The towing company was NOT sent by the bank. The bank still doesn't know about the accident. The tow truck was sent by the apartment complex, who automatically tows any car on its lot that does not look drive-able. I think there's some kind of disconnect.

• Answer:

  Your boyfriend needs to contact the bank, They will take it from there as to how to handle it. Your boyfriend is in the clear as far as what will be owing on the car - his Dad will be sued for it but that is his Dad's problem. He ( Dad) should have taken the car back when he quit paying the insurance and since he didn't, it is his responsibility. Just be sure you and your boyfriend learn from this - do not buy a car you cannot afford, do not drive a car without insurance, and do not ever park a car where it may be towed!