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If you are still making payments to the bank, then legally it is the property of that bank. If you fail to make the payments, the bank reserves the right to take back their property. Property can usually be returned to the purchaser if the the purchaser can make the payment in full, within a certain amount of time set by the bank.
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∙ 15y ago
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After repo and auction would it be smart to pay off remaining balance with a credit card just to get away from the bank?
Depends on what interest rate the card charges and what the bank charges. Probably NOT. Your CR already has a repo on it, paying it off wouldn't remove that unless you did some magical negotiations with the bank, soo what would you gain?? Good Luck
What is meaning to Repo rate?
the no of times a husband sleeps with his wife is called repo rate
Can the bank repo a car that has a mechanics lien on it without paying mechanic?
No, not in Oklahoma anyways.
Can your car be repo if you have no insurance?
The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.
Can a bank repossess your car for being 2 weeks late with a payment?
Read your contract. It likely says the lender can repo anytime you are in DEFAULT. Two weeks late is unusual, but they could repo when you are 1 day late.
If your car is repossessed and you start paying on it and then the bank never sends you a statement so you stop paying can they pick up the car?
ANY time you are in default, they can repo the car.CALL the bank about the problem, dont create another problem to be dealt with.
Can the bank repossess your vehicle if you are only 17 days late in Virginia?
Read your contract. Likely the answer is YES. As long as you are in DEFAULT, they can repo.
What is a bank repo rate?
The Repo rate is the rate at which the central bank lends loans to its member banks.
Can a car place repo your car if you have made half of your payment?
Not making the entire payment is still a default on payment. You will be charged the late fee and you will need to make it right with the bank or they will start the process of repo.
How many months of not paying a car before bank can repo the car?
Depends on the lending institution but the S.O.P. (Standard Operating Procedure) for most is 3 months.
If you do not nor ever had a contract with a financer of your car how late do you have to be on your payment for them to repo?
WHY are you even paying notes to someone who has no secutiry interest in your vehicle?? You can be ONE day late and be in default of whatever "contract" you have that convinced them to loan you money. Be Real
Can a dealership repo a car for not paying all downpayment?
A "car dealership" CAN NOT legally repossess a car for any reason unless the are operating as a financial institution (bank/ Lien holder). And they had better be license as a bank if they are. (New York).
