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How long does a buy here pay here take to get a car repossessed?
Wiki User
∙ 16y ago
Every company is different..collections start the minute a payment goes past due. Usually the repo starts after 3 pmts are due maybe sooner if
there are no communications with the customer or maybe later if someone has managed to stall off the repo.
Wiki User
∙ 16y ago
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What can you do if a 'buy here pay here' reports your car as repossessed but you still have it?
Offer to buy it.
How long overdue until your vehicle can be repossessed?
Technically the car can be repossessed when your loan becomes 30 days late. The industry standard is to start looking for the car after 90 days. This is for large banks. If you purchase a car at a 'buy here pay here' lot, they WILL take the car on the 31'st day.
Can a buy here pay here car be repossessed?
Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.
If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Only if the dealer reports it to the credit bureaus.
If a car is repossessed from someone at a buy-here-pay-here lot then you take the car and it is given back who is responsible for the balance remaining?
Usually when your vehicle is repossessed it is auctioned off and the proceeds are applied to the balance of the loan after any commissions, fees or other charges are deducted. You are then responsible for the remaining balance.
After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
Can you finance another car soon after your current car has been repossessed?
YES, IF you have a large D/P, any buy-here-pay-here lot will finance you.
If your car was just repossessed in Utah do you have to pay the balance in full or outstanding charges only if it was a buy here pay here lot?
READ the contract you signed. It determines what you pay.
Can you still buy a car at a buy here pay here if you have two repossessed cars?
Buy here pay here lots make the decisions themselves to sell you a car or not. They typically base this on a number of factors not over looking their gut instinct. The only way you will know if a particular lot will sell you a car is to contact them and ask.
Can the colction take your semi truck if i buy one?
If you don't make your payments, they can be repossessed, the same as any other vehicle.
Can a buy here pay here place take away your car if you move to another state?
No. as long as you make the payments to that place, it should not be a problem.
How can you buy a repossessed truck?
Go to bank or other place that repossessed the truck. Pay cash for it etc
