Cars & Vehicles
Repossession
Texas

Can a car be repossessed for late fees only?

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Wiki User
2006-06-13 03:41:00
2006-06-13 03:41:00

Once you are late by a single day you are in violation of your loan agreement which means you can be repoed.Until you bring your loan completely current....late fees and all you are in danger of being repoed.Read your loan agreement.

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If your payments are current, they're not coming to repossess your car. Trust me, the finance company would much rather have your money than your collateral (i.e., the car).

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Little late for that don't you think. If the car has already been repossessed then you now owe the repossession fees. Go to the lender sit down and work something out which is what you should have done in the first place.

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Its NOT a matter of HOW late, just that you ARE late. Read your contract. That should explain when you are in DEFAULT.

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Pay the current balance, plus repossession and storage fees.

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