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As long as you are in DEFAULT of the contract, the lender can repo the collateral.

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โˆ™ 2015-07-15 18:30:43
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Q: Can they repossess your car the day after they receive a partial payment?
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Related questions

If the dealer accepts partial payment can they still repossess your car?

Yes. Once the lending agreement is in default the lender may take whatever action they choose in recovering the monies owed. It is a misconception that by making a partial or token payment the creditor will not be able to assert their legal rights. The lender can accept the payment, still repossess the vehicle or pursue litigation.


Can a used car dealer repossess a car that is not in delinquent of payment but had late payment history?

Yes


Can a car dealership repossess your car if they say you owe them more money for a down payment?

A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.


Can a bank repossess my car if I am making some sort of payment?

If you aren't paying in full they can repossess the car. To a bank " some sort of a payment " doesn't count. Call them and make arrangements.


If you are only 10 days behind on your payment can the Financial Institution repossess your car?

no


Can a lender repossess a car if you do not pay down payment?

Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.


Do they have to send you a letter to let you know your car payment is due?

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.


Can a used car dealer repossess a car that is not in delequent of payment?

No, and why would they? If the payments are up to date and have been made on time, there would be no reason for the dealer to repossess the vehicle.


Can a creditor repossess a car when the payment is one day late?

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


If you don't pay the first payment for your loan can they repossess the car and still collect the amount the car is worth from you?

Yes.


How late can your payment be before repo in North Carolina?

In North Carolina, a lender can repossess a car when just 1 payment is missing. They can also repossess it if you let the insurance lapse and are current on your monthly payments.


Is it legal for a car dealer to repossess a vehicle after 27 days late on payment?

Depends on your jurisdiction. If you're late on a payment for just 1 month, it's legal for the car dealer to repossess your vehicle, but 27 days seems a bit uncalled for.

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