0
How delinquent do your payments have to be before your vehicle will be repossessed?
Wiki User
∙ 18y ago
A GUY I KNOW PERSONALLY AND VERY WELL, WHO OWNS A CAR DEALERSHIP ANSWERED THAT VERY QUESTION FOR ME WHEN I ASK. HE RESPONDED SAYING 96+% OF DEALERS WILL WAIT AFTER 3 MONTHS NO PAY BEFORE REPOSSESION OF A VECHILE However it is strictly up to the lender. If financing is through the autommbile company (Chrysler, etc) it is their call over the dealer's. If you are dealing with a "Buy-Here-Pay-Here" lot, it can be as short as 3 days! Caveat Emptor (Buyer Beware)
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
How long does one have to be delinquent on a loan before a car is repossessed?
To determine how long one will have to be delinquent on a loan before a car is repossessed depends entirely on where the loan was taken from. Different places allow different payback requirements.
Can you object to a repossession before car is taken?
Yes, and many people do object to their vehicles being repossessed, before and after the repossession. Unfortunately, your objection will have little effect. If you are delinquent or in default on your loan, and the vehicle was used to secure the loan, the vehicle will be repossessed. There are few legal options available to you to avoid this aside from paying the loan current.
How far behind in car payments must you be for gmac to repossess yhour car?
I think with any auto finance company you must be 90 days to 120 days delinquent on your loan before they start considering repossessing the vehicle. Beware, within that same time period, your car, truck, or etc.. will be repossessed.
In Texas do they have to inform you before they repo your vehicle?
It is probably stated in your finance or lease agreement that if you don't make your payments on time that the finance company has the right to repossess the vehicle. Consider yourself informed. Long story short, if you don't want your vehicle repossessed you need to make your payments.
Do you have a right to have a repossession letter before my vehicle is repossessed?
no
What can you do if you have had your car repossessed before and you are currently paid up on your payments but one of the checks bounced?
Sit back and wait for NOI letter (Notice of Intent). * The majority of states do not require notice before a vehicle is repossessed. Contact the lender and explain the situation. And hope for a positive outcome.
How many days must a vehicle loan be late before it is repossessed?
They usually repossess when you miss two or three payments. They seldom repossess if you've just missed one.
What has to happen before a creditor can have your care repossessed?
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.
How long before your vehicle can legally be repossessed?
WE'RE ON OUR WAY!!!!!
Before a car can be repossessed doesn't it have to be behind in payments by at least two months?
Nope.
In Kentucky how many car payments behind do you have to be before your car is repossessed?
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
How many missed mortgage payments before you get repossessed?
Its usually 3 months when the bank starts the paperwork and harrassing you to make payments
