Until the Statute of Limitations tolls on the judgement.
Wiki User
∙ 8y agoIn most cases, YES
As long as you owe them money they can take it.
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.
not if you still owe money on it
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
get it back?? prolly, depends on your payment record,ect. They really dont want the car, they want the MONEY. How long?? a day or two
As soon as the lender sells the car, they will know what the balance due is. Then they will come after the money. You will know when that happens.
I wish I knew
On the surface, no. As long as you have not defaulted on the loan contract, there is no reason for repossession. The lender wants your money, not your car.
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.
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
The one who BORROWED the money and/or the on who COSIGNED the loan.