Can a car only get repossessed after a payment is 90 days late?

A car can be repossessed after one late payment, that is considered default on the aggreement. If a person is still driving after 90 days late, they need to thank God.

As a teen, I once had a car that I was paying about 220 a month for. 7 payments before it was paid off, I quit my job and went back to college. I had one period of 120 days late before I found a way to pay back to being current. The day after I made the payment, my car was repo'ed. The bank said that they weren't able to contact the repo company in time to stop the repo. I got my car back but was charged by the bank for the tow. I am thanking God that it didnt happen sooner. After reading this faq I know that I had a NICE BANK!

I have read that some states require a person to have more than one late payment before the bank can repossess.

No. The bank can repo a car if your payments are a day late, if there is no grace period. (But this wouldn't normally happen.)

Most states don't have specific laws regarding when a repo occurs.You signed a private contract with the bank which spells out the specifics.That is why if you are driving a car that is up for repo and get stopped by the police the police don't care.Its not a crimminal matter it is a civil matter between you and the lender. As for the 120 days with only $1400.00 due it is not in their interest to repo the car.

I was exactly 3months late on my car payments and yes my car was repoed...this morning actually @ 7:00am...I called the bank & I told her I was on my way to pick up my car (of course i was upset) the bank manager told me "oh no, its not that easy hun...theres a loooong process you have to go through" um yes it was that easy I had my car back @9:30 am the same day- and wow it amazes me how the tow company tries to get involved and TRIES to do everything to avoid you getting your car back!! I learned a big lesson today- KEEP UP WITH MY CAR PAYMENTS and no matter how busy i feel my life is..i have an obligation to PAY WHAT I OWE!! oh and by the way i was charged 1100 + 375 for the tow company...what a price to pay for the 2hrs they had my car....good thing i had money on hand!