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How long should you wait before trying to get a new car after a repossession?
Wiki User
∙ 8y ago
Bad credit says on your account for 5-7 years. If you wait 3-4, then you may be able to get another car with a co-signer or with high interest. You may be lucky to get one after 2 years. The more attempts you make to inquire on your credit report to get a car, the worse it looks. You must go to a credit counselor or the credit beureau to inquire on your credit account without any negative impacts.
Certainly there are lenders that MAY give a loan to someone with bad credit, especially if there is a down payment, etc. theyalways charge a much higher interest rate, and hence the loan may not, or should not, be something you should want to encumber yourself with.
Which brings us to the real answer for "how long". You should only consider trying to get another loan after you have corrected whatever caused you to default before and have gotten your finances under control so that you can actually abide by the terms and promises you would agree to.
Wiki User
∙ 8y ago
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Once the loan goes to the repossession department how long do you have before they take the car?
as soon as they can find it
How long after repossession can you get a car loan?
The repossession stays on your credit report for 7 years.
If the spce heater flame goes out how long should you wait before trying to restart the heater?
30 minutes when the burner has cooled
How long does it take for your car to be auctioned after repossession?
depends you should receive a notice in the mail from the lender as to the auction date and place.
How late on payments do you have to be before your car can be repoed in Kentucky?
One day. Typically it takes the lender a week or more, usually a month before they send out the order of repossession. If you are trying to figure out the float on how long it is safe to be delinquent, don't bother. Once you have gone into repossession, the lender can still have your vehicle picked up, even if you pay current. You breached a contract, the penalty of that is the surrender of the secured property, the car. Do what you have to to pay the note, or be honorable and surrender the vehicle.
How long is a repossession on your records?
7 years
How long does a repossession agency have to hold your personal property after repossession?
A repo agency should follow it's state requirements. Most respected places will try to call or send a letter to a good number or address with this information.
How long does the repossession process of a car usually take?
The repossession process of a car usually takes about 6 months
What is the statute of limitations on the lienholder trying to collect the balance of the loan after sale on a voluntary repossession of a car?
the same as an invol. Depends on your state laws. If the lender has gotten a judgement, it could be a long while.
Can you be threatened with repossession for having been arrested?
You being arrested has no bearing on your loan. As long as you make the payments on time there will be no repossession. The loan company does not care if you are in jail as long as they get their money.
How long must a financial institution hold a vehicle after repossession before it can be disposed of?
im Missouri it is 10 days after repo, the title can be filed for repo by institution.
