answersLogoWhite
Car Buying
Auto Loans and Financing
Repossession

Can you convince the lender to give the car back and get back on the payment plan after repossession?


Top Answer
User Avatar
Wiki User
2015-07-15 18:33:49
2015-07-15 18:33:49

I cant, you might can IF you pay current. The lender wants their money, on time, blah blah blah. SOS different day, LOL

Yes, they have to give your car back if you pay the reinstatement ammount, in other words all the payments and fees you owe to make the loan current... the only exception will be if they have a reason to believe that you hide your vehicle to avoid repossession....in that case they have the right to refuse the monthly payments, and they will ask for the full payoff amount to give your car back, if they have not sold it yet...

Related Questions

User Avatar

It is sooo SIMPLE, you CONTACT the LENDER for further instructions.

User Avatar

Is is common knowledge that the concept of repossession is the taking back of property by a lender or seller from the borrower or buyer, usually due to default.

User Avatar

It won't help much unless you can sweet-talk the lender and convince him to remove the repossession from the credit report. Otherwise, the repossession stays on the record and the only 'improvement' to your credit rating would be the lack of an accompanying past due status.

User Avatar

Rachelle, try to make a deal with the lender to return the car without the repo. At least ASK them to do it. It is their choice.

User Avatar

Your option is to CALL the lender who had it repossessed and find out how much it will cost to get it back. Repossession is a matter between YOU and the LENDER. There is no state agency that oversees the process.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.