Repossession

Can a car be repossessed one day after a payment was made?

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2011-09-06 08:34:51
2011-09-06 08:34:51

Sure it can, if that payment was not enough to fufill your end of the contract. A car wont be repossessed if it is only a month behind. If you are five months behind, and make one payment, you are still behind... even the next day, when you are only four months behind. One payment may not catch you up.

When you purchased the car, the deal was, likely, that you get to drive the sellers car, (seller still owns it till the final payment is made), and the seller gets money from you at stated time intervals, likely once per month. If you broke your end of the deal, you no longer have a right to drive the car owned by someone else.

Make those payments on time, then you need never worry about the repo man.

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Related Questions


Call the lender, and make some kind of arrangements. Do not let your car get repossessed. You will be responsible for the balance on the loan. no


Under Texas law, a vehicle may be repossessed even if payment was only late for 10 days. This means that is payment was due on the first day of the month, and payment has not been settled on the tenth, then, vehicle will be repossessed on the eleventh.


In California your car can be taken 1 second after midnight the day after your payment is due. If you do not comply with one of the requirements of the loan, things like insurance and the like, the car can be taken with out notice.


YES, they can and DO. Read your contract about the re-instating part. Was this your 2nd repo?



Depends on the contract you signed and the state that you live in. Some states require a 15 or 20 day Right to Cure letter be sent to the debtor prior to repossession and some states allow the vehicle to be repossessed the day after you miss your payment.


Absolutely, and it's probably in your contract. Once the due date for payment has passed, the car belongs to the dealership. It depends upon whether the laws of the state where the vehicle was purchased allow judicial and/or non judicial repossession of secured property. If your contract states "no grace period" then the car is "ripe" for Repossession. In some States there is a semi-lengthy Repo process that may buy you some time but if the necessary payment is not made by Closing Time of the Dealership on said day, the car CAN be repossessed THAT night. I base this on Georgia Law. Y-THINK-Y


No u can get ur car repossed any day and any time.


get it back?? prolly, depends on your payment record,ect. They really dont want the car, they want the MONEY. How long?? a day or two


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 finance company reposses your vehicle if you made your payment on the15 day


It depends on which state you are in. In Arizona you can be repo'd at the end of the business day that your payment was due. However most major banks and finances companies normally wait for up to 90 days.


NO, you know when your payment is due. It is listed on the contract you signed. Miss a payment and they can repossess your car then next day.


dont see why not. I've repoed a car within a hour of getting the assignment.


In the state of Ohio, your car may be repossessed if you miss one payment. Your car may be taken any time of the day or night by the repossession company. The repossession company is not allowed to keep any items that you may have left in the car. The company must inform you as to what they are going to do with the car, including selling it, putting it in a car auction, or keeping it.


The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.


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.


Yes Usually they allow a grace period for an arears payment, but they do not have to.


after 60 days they start the process. By day 75 it is repossessed


12:01 am of the day after your payment is due



Whatever day you agreed upon when you signed the loan agreement.


Who ever signed the pay day loan contract owes the money. You bought the car for the friend so the title should have your name on it until such time as you have been paid for the car and you sign over the title to the person buying it from you.


Unless it's explicitly stated in the fine print that they can't do any such thing, they have a right to repossess the moment the payment is rendered late, if they so wish. However, if you have documentation from the bank showing them explicitly giving you a deadline date, and they come to repossess before then, you may have grounds for a lawsuit. However, you would need to find out if it was the bank which had your car repossessed on that particular day, or if it was the repossessors jumping the gun and going forth with it before the date which they were specified to take possession of the vehicle.


They can litterally reposses your car 1 second after midnight the day after your payment is due.



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