The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.
That is determined by the LENDER.
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
READ your CONTRACT. IF the contract is in DEFAULT, the collateral CAN be repossessed.
can you repossess a car for non payment of late fees even though the initial payment has been made in Colorado
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.
It depends on how many times you've been late on vehicle payments. Most of the time though as long as you are making a payment of some kind on the loan your vehicle will not be repossessed.
Depends entirely on what the contract you signed says. If you are 1 day late they may be able to repossess the vehicle if that is what the contract says and what your state laws are regarding repossessions. Read your contract.
Read the fine print of your contract carefully. I have never heard of a vehicle leasing/purchasing contract NOT having a first payment default clause.
No, you do not have to pay California late registration fees on your vehicle before you can register it in another state
Under Texas law, a vehicle may be repossessed even if payment was only late for 10 days. This means that is payment was due on the first day of the month, and payment has not been settled on the tenth, then, vehicle will be repossessed on the eleventh.