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Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.

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โˆ™ 2012-11-23 18:31:47
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Q: Can a car be repossessed if you are two payments behind?
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Before a car can be repossessed doesn't it have to be behind in payments by at least two months?

Nope.


I was two months behind but still pay a payment every month. can the car still get repossessed?

If they are accepting your payments, they probably won't take your car.


How many payments behind will Volkswagen repo your car for?

two


Will your car get repossessed if you have missed payments with Black Horse for two months?

Maybe, by Fedral law your car can get repossessed if you are ONE DAY past due on your car payment. I know many repo agents and they have a saying "Support your local repo man-- miss two payments" I wouldn't hold off much longer to pay them. You should call them and try to get a deferment or two.


Can a bank sell your vehicle the day after it is repossessed in Alabama?

Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.


Your car was repossessed after being six months behind and then you get a call from the car dealer after two years trying to repossess the car are you still liable?

If the dealer calls you after the car has been repossessed, then you should inform them that you no longer have the car. They can contact the finance company to verify the information.


Can you repossess a car in Alberta that belongs to both my husband and myself?

A car can be repossessed if the payments are not being made. It really doesn't matter whether it was bought by one person or two. The car dealer just wants to be paid.


When will your car be repossessed?

About two months after one stops paying for the vehicle.


Will your car still be repossessed if you are late two or three payments but pay up to date after you get the default letter?

Read that letter carefully. The one that I am most familiar with clearly states that you have 20 days to make any past due payments and if they are paid you may continue with the original contract, BUT if you become delinquent again, they may exercise their rights without giving you any additional notice. That means from now on you had better not miss any payments, not even by one day, or your car could be repossessed.


If you own two cars and are able to make payments on only one and are letting one get repossessed can the finance company for the repossessed car do anything toward the remaining car?

Possibly yes. They can resale your repossessed car dirt cheap and sue you for the difference in what you owed and what they got for it. Then they can sue you to collect that difference. If they win the suit they can have the sheriff pick up anything you own to sell at public auction to help pay that money they supposedly "lost". It's possible but not real likely. It depends on the mob that runs the finance Company


Can your car be repossessed if the payment is two weeks late?

READ your contract. If you are in DEFAULT of the terms, you can get repoed.


What can you do if your car was repossessed but you were not behind in payments?

IF you had ins. coverage and were not in DEFAULT of the loan in any way, CALL AN ATTORNEY NOW ! ! ! Are you sure the vehicle wasn't actually stolen? Usually the only two reasons for legal repossession are being in default on your payment or not keeping the required minimum insurance on the vehicle. This is to protect the finance company from possible loss and basically protect their investment.


How can I estimate my car payments using a traditional calculator?

The best way to figure your car payments is to first call your insurance agent with the kind of car your thinking of getting to see roughly how much those payments will be and the car dealer will tell you what your car payments will be and just add the two together and see if it fits your budget.


F a car was repossessed two years ago and you put an old car that a friend had on the road can they come after that vehicle for the money still owed after auction?

No. They can repossess their collateral (the car which was repossessed), and they can send a collection agency to hound you for money, but they can't confiscate your property.


Can your car be repossessed if your wages are already being garnished?

Yes, the two issues have nothing to do with each other.


How many payments can you miss before your car is repossessed?

It varies from company to company. They won't tell you their policy, even if you ask. They CAN reposses after just 1-2 missed payments, I believe. They will not notify you. I was 3 payments behind with Key Bank, and I never got a call or a late notice in the mail or anything. Just woke up 1 morning & it was gone. You DO NOT want your car repossesed, ever. If you don't want the car anymore, call them & make arrangements with them to give up the car, and it will be much easier and not look as bad for your credit. I actually wanted my car back, and although I only was behind $600-$700, it cost me about $1600 when all was said & done to get it back. (And my radar detector was gone, the battery was dead, & it had obviously been driven very hard.) Even if you can't pay them right now, calling them is always better than avoiding them. If it is a temporary financial situation, many will offer a deferrment for a month or two. If they don't, ask. Also, if there is any danger your car may be repossessed, don't leave ANYTHING you don't want to lose in your car when you get out.Usually 3 months. There could be shorter or longer terms by lenders.


How far behind on payments can you be before the company can repossess your car?

3 mos. is pretty common but it may depend on each individual loan company and how many times you have been behind. It really depends on the company. I know with some companies about a month or two and they are calling you. Other companies it can take 6 months before they want the car back. If you can make small payments to them call them up and let them know. I have had a family member that got in some hard times and he called up the company that he paid his car payments to and they allowed him to pay what he could. They said that they are more willing to do that then repo a car.


What is an unintended consequence of an automobile?

Car payments and insurance coverage, to name two.


Can a car company withhold the title after recovering your car from being repossessed and then take the car two weeks after you are discharged from chapter 13 without giving you a chance to pay?

KEYWORD "DISCHARGED"


How many days must a vehicle loan be late before it is repossessed?

They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.


If you are behind two payments and the repo company calls stating they are taking the car but you can wire the money two days later will they still repossess the car?

Carla, the LENDER is the only one who can stop the repo. CALL THEM ASAP and be VERY convincing if ya wanta keep the car. Otherwise you will be back on your feet again. Good Luck


Will you lose your car if you are late on a car loan by two or three payments and a letter was sent stating you are in breech of contract but you are going to make the payments up to date?

Until you get paid up to date, your car can and probably will be picked up.


Can a car be repossessed if two names on title and one person took out loan?

Yes. How many names are on the title and/or the loan means absolutely nothing... so long as there is a lien on that vehicle, that lienholder is the sole lawful owner of that vehicle, and can repossess it as recourse for delinquent payments.


If you are late on your car loan by two or three payments but you got a letter saying you are in breech of your loan will you still lose your car and if you pay it up to date?

You can pay off the note but if the lender has declared the note in default that means that you have to pay it off now or the car will be repossessed and sold to cover expenses. Most notes have a description of what constitutes default. Late payments can result in just what you're describing. Your only choices are to pay it off (you might need to get another loan) or sell it yourself or turn it back to the lender.


How far behind do the payments have to be before the lender can start repossession?

READ your contract. When you are in DEFAULT, they can repo. Legally only one day, but most lenders will work with you if possible. to whom it may concern, I co-signed for someone and they coundn't make the payments. I got laid off and i couldn't make the payments. I am now currently working and i don't want to lose the car i could pay the three months car payment. could the car dealer wait for two more weeks until i get paid. the car is helping me to get to work. Can they understand the situation?

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