Can your car be repossessed for late payments?
Yes, this is the common reason for repossession. It is in fact the primary reason for the existence of repossession agencies and repossession forwarding companies. It is also the reason the vehicle was used to secure the loan in the first place.
A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time. Read More
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment. Read More
If a car was repossessed and you called and said you would pay all late payments why wouldn't they let you have the car back?
Perhaps the car is worth more than the remaining payments! Read More
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. Read More
No, but your car can be repossessed if you don't make the payments. Read More
How far behind do your car payments have to be before it can be repossessed in the state of Virginia?
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. Read More
I wanted to add to my original question...Our car was repossessed by the finance company because they said they found out someone else was using the car because of car payments being sent from a different address. AND, they stated that they wanted to see the condition of the car. I thought a car would only be repossessed if you were late on payments? I have never heard of this, so I don't know what… Read More
The only way you can have your car repossessed would be to not make any payments. If you have taken out a loan and have not made payments, they will take your car away. Read More
Obvious answer, Yes. Read More
If your payments are current, they're not coming to repossess your car. Trust me, the finance company would much rather have your money than your collateral (i.e., the car). Read More
Theoretically, a car can be repossessed after 1 day of being late with payments. In practice, most banks don't take action until 60 or 90 days. Read More
If you weren't making your payments yes. It would only be repossessed if you weren't making your payments. Read More
maybe but your car would be repossessed Read More
If you don't make your car payments. Read More
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible. Read More
How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?
When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy Read More
If you do not want your car repossessed, then you need to keep up with the payments on your car. If you are behind on payments, then your car could be taken away from you legally. Read More
Ones on which the owners are late on the payments. :-) Read More
If you don't pay your car payments, people go to your house and take it away. Read More
When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through. Read More
Yes, if there is a breach of the lending contract, such as non payment of late fees or penalties, lapsed insurance coverage and so forth. Read More
In the state of Nevada, if you do not make payments on a car you are buying, it can be repossessed with no notice given to you. Once repossessed, you will still be liable for all further payments even if the car is sold at auction to another buyer. Read More
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so. Read More
Not for simply having your licence suspended. Now, if you lose your job as a result of it, and are unable to make your car payments, then it can be repossessed for nonpayment. Read More
The person who bought the car didn't make payments so the bank takes it back. Read More
If you are not making the required payments to the finance company that holds the lean on you car it may be repossessed. Proof of income is not required or relevant. Read More
Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned. Read More
Can a car be repossessed if the debtor was not notified in writing that the bank would not be accepting anymore late payments and instead the tow truck person knocked on the door to take the car?
It happened to me. No notices were sent. No opportunity to bring payments up to date. The tow truck people didn't knock on my door. They just took the car. Read More
Actually one, I have repossessed cars for BMW where there customer was three days late. it all depends on the states laws I have a website that may help you avoid having your car repossessed. www.stoptheREPOman DONT LET TTHE BANK TAKE YOUR CAR BACK! Read More
If your car has been repossessed by the bank for missing payments, the quickest and most efficient way to retrieve your vehicle is to contact the bank and make your back payments. When contacting the bank about back payments see if there is a new payment plan system that you can set up with them that is more beneficial to you, to avoid having the car repossessed again. Read More
Nope. Read More
Little late for that don't you think. If the car has already been repossessed then you now owe the repossession fees. Go to the lender sit down and work something out which is what you should have done in the first place. Read More
Payments are the entire balance due after the lender sells the car and YES, in most states they can garnishee your wages. Read More
you take your payments to pay them and say im here to pay them kthxbye Read More
Contact the lender who repossessed the car. You will have to make up all back payments and pay all fees associated with the actual repossession. Read More
The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed. Read More
Can your car be repossessed if there is not a lien on your car you were not behind on your payments?
If you have no lien on your vehicle then no one has a legal right to repossess it. If you're not behind on the payments there would be no reason for the lender to reprocess the car in the first place. It is hard to believe you have a loan on a car without a lien. The car stands behind the loan. If there's no lien on the vehicle then the car is not involved… Read More
How can you get a loan if your car was repossessed due to late payments and debt and the finance company says you can't recover it unless paid in full?
Just go get another car. Do not worry about that, lots of places do there own loans and you do not have to go through a bank. Read More
Can you repossess a car which you sold to a friend with a written contract stating that if payments are not made as agreed car will be repossessed?
YES. Read More
Will be repossessed, be patient. You either pay off, or pay off. No longer able to make payments. They will repossess the car and sue for the difference. Sorry. Read More
Yes. And that will help out their credit history too:) Read More
Only if you have failed to make the agreed payments on time. Read More
check it out! http://janus.state.me.us/legis/statutes/9-A/title9-Asec5-110.html There are different laws in different states. The ones I am familiar with send the right to cure letter the first time the payment is 45 days late. It states that you may continue the contract if you make up the delinquent payments within 20 days. If you do not make these payments, the car can be repossessed on the 21st day. If you do make the payments and reinstate the… Read More
Absolutely. Read More
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan. Read More