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Auto Loans and Financing
Repossession
Liens

Can the bank repossess a car after 8 months of asking them to get it and no action from bank?


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Wiki User
2015-07-15 18:45:43
2015-07-15 18:45:43

YES, as long as the car is collateral for a loan, they can repo it.

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Yes they can repossess everything that you got a loan for.

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A bank can repossess a car at any time the loan has defaulted. Many times a bank will wait until a payment is 2 to 3 months behind before repossession.

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As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.

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It usually will take up to 2-3 months, they will call you with several options to see if there is anyway to figure a way for you to stay in the car.

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Check your copy of the contract that you signed for the loan. If this action for failure to pay is in the contract then they can do it.


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