It depends on which state you are in. In Arizona you can be repo'd at the end of the business day that your payment was due. However most major banks and finances companies normally wait for up to 90 days.
Yes
One Kansas attorney says 20 days and another says 10 days.
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.
after 60 days they start the process. By day 75 it is repossessed
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.
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
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.
is it true that a dealer have to hold a car for twenty one days before they can sell it after it has been repossed
10 days
Absolutely.
In most states, you as the debtor have thirty days to redeem the vehicle after repossession. This can vary slightly from state to state, and most repossession agencies prefer to turn vehicles around as quickly as possible.
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.