Credit Reports

Can you still buy a car if you have on your credit report that you had a car reposessed?


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Wiki User
2015-07-15 18:46:04
2015-07-15 18:46:04

Yes, IF you pay more down payment and higher interest rates.


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Yes. The DMV (Department of Motor Vehicles) has nothing to do with whether or not your vehicle was reposessed (nor do they care). This will, however, affect your credit and ability to buy another vehicle.

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It is not hard.You will have to pay a higher rate of interest.A better way to go is to lease to build your credit back up.An even better way to go is to buy outright and save your money.Remember that the repo stays on your credit whether or not you continue to pay for the car or pay the loan off it is still there.

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If they don't report, then you don't have to worry about it affecting your credit.

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There are actually plenty of alternatives. You can buy a home, buy a car, even some home utulities services will do it depending on where you live. Typically, if they ask for you SSN, then it will most likely appear on you credit report.

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No, it is illegal, and if you are a victim of this, you can have it removed from your credit report by disputing it with the bureaus. After the statute of limitations is up on any trade line, it can not be placed back on your credit report.

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