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Yes if you have bad credit and have a loan with a shady finance company. I think that's how they make their money betting on you the buyer to be late and then repossesse the car and do it all over again.
Yes if you have bad credit and have a loan with a shady finance company. I think that's how they make their money betting on you the buyer to be late and then repossesse the car and do it all over again.
Wiki User
∙ 12y ago
Wiki User
∙ 8y agoYES, as long as the car is collateral for a loan, they can repo it.
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Can your car be repossessed before being 90 days late?
Yes
You are late 10 days on your loan against your car and the financial institute is harassing you that they are going to repossessed the car can they do that being only 10 days late?
Yes, they can!
Can your car be repossessed after being late a few days?
It can be. but generally wont be unless its your first payment.
How many days late on car payment before it can be repo?
The length of time that a car payment can be late without being repossessed will depend on the bank or car dealers agreements. Payments made after a month may be in jeopardy of being repossessed.
Can your car still be repossessed if the payment is 30 days late?
Absolutely.
How late do you have to be before the bank can repo a car?
Theoretically, a car can be repossessed after 1 day of being late with payments. In practice, most banks don't take action until 60 or 90 days.
How long overdue until your vehicle can be repossessed?
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.
Can you pay the late payment and get your car back within 14 days of it being repossessed?
In some states under some conditions, YES. It depends on how many times you have been late, repoed, in default, the terms of the contract you signed,ect.
Car repo in ny?
A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time.
Can a car be repossessed because someone is borrowing it?
I wanted to add to my original question...Our car was repossessed by the finance company because they said they found out someone else was using the car because of car payments being sent from a different address. AND, they stated that they wanted to see the condition of the car. I thought a car would only be repossessed if you were late on payments? I have never heard of this, so I don't know what is going on.
How far behind do your car payments have to be before it can be repossessed in the state of Virginia?
In Virginia, the law states a lender must submit notice in writing at least 10 days before a car is to be repossessed. Therefore, car payments that are late can be subject to repossession at anytime, provided notice has been given.
Late on your car payment by 10-15 days once car was repossessed Asked the company why they took car they said had not rcvd that months payment and no wk. Can this be done?
Yes it can be done,read your loan agreement.
