How long do you need to wait to buy a car after repossession?

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Nancy, you can buy one as soon as you find someone to finance you. You will probably pay a higher interest rate and need a bigger down payment,but the choice is yours. Good Luck
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Where can you buy repossessed cars?

Here is a variety of advice: . If I were you I would check out your county for repossessions to be sold they generally sale for 2/3 of the loan value. . I would NOT buy a car that has been repoed. Simple logic tells me that the driver was NOT doing ANY repairs or even oil changes, before it got ( Full Answer )

Where can you get a loan to buy back your car that was repossessed?

Answer . Mike, that depends on how great your credit is. A repo on your record is NOT going to help. Any interest rate you get will be HIGH because of your credit rating.\nWith a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck.

How long does the bank have to sell your car after repossession?

The lender has to sell it in a "commercially reasonable manner". they may be waiting for a better season to sell it, prices vary by season. this might be in your best interest and it might not. Call a local attorney for state/case specific advise,

How do you buy a repossessed car?

If you are trying to buy a specific car, you can contact the bankor whoever holds the lien on the vehicle for more information. Youmay also start online with a free directory search for banks andother financial institutions who are selling repossessed cars. There are also other alternatives. You ca ( Full Answer )

Can you buy another car before your car gets repossessed?

O' yea, that is a brilliant idea. If you can afford to buy another car, then you can afford to pay for the one you agreed to pay for. Make the payments on the car you now own, and your problems will disappear. Stop being stupid and trying to work the system. They loaned you money in good faith. You ( Full Answer )

How long before they can repossess you car in Virginia?

The lender can legally take the vehicle one day after the payment is due. That is, on the day the payment is late, the lender can begin repossession efforts. The day the payment is late, the contract is void.

Can you buy another car after a repossession?

Answer . \nYes, you can. My father did this. The thing is, you get a really high interest rate. You could try to have someone co-sign to get the interest rate down a little.. Answer . Yes but why would you want too??save your money and buy a used car outright.Then\nthere are no car payment ( Full Answer )

How long should you wait before trying to get a new car after a repossession?

Bad credit says on your account for 5-7 years. If you wait 3-4, then you may be able to get another car with a co-signer or with high interest. You may be lucky to get one after 2 years. The more attempts you make to inquire on your credit report to get a car, the worse it looks. You must go to a cr ( Full Answer )

How long do you have until your car is repossessed?

Untill the re-po man finds you, could be a day, could be never if you're good. But usually the bank wont send a re-po man until you have become very very late, few months give or take.

Can you still buy-lease a car after 2 cars repossession?

No. Unless you go to one of the dealers that offer a little box on the dash board that requires payment to run. Total rip off. A repossessed vehicle will stay on your credit record for 7 years. Due the recent economy no one will get you a new car loan or lease. Your best bet is save mnoney and pay c ( Full Answer )

How long does it take for a car to be repossessed after the request was made to repossess it?

Answer . \nThe time frame depends upon the lender.\n. \nRegardless of whether the repossession is voluntarily done by the borrower or a forced repossession by the lender the consequences remain the same.\n. \nThe borrower will be responsible for any deficiency between the amount that the repos ( Full Answer )

How long after a bankruptcy discharge do you have to wait before buying a car?

Answer . \nThere is no time restraint on purchasing anything after bankruptcy. In fact, as it is "after", barring something like intentional fraud by using undeclared resources that were available at the time of bankruptcy, your actions after filing have virtually no effect on or from the bankr ( Full Answer )

Do you need a license to repossess a car in Wisconsin?

Wisconsin is a voluntary repo state. You cannot legally repo w/o the following: Wisconsin Consumer Act (WCA) prohibited creditors from repossessing collateral or goods without first obtaining a court order, unless the consumer voluntarily surrendered or abandoned the goods. The law was changed in ( Full Answer )

Do you need a key to repossess a car?

Answer . No. There are other options available to the repo man. Most of the time they will just tow your car, no key needed. Other times they will take the car by slamming the ignition or whatever is required. When the automobile is dropped off at the lot, they will just replace the locks if n ( Full Answer )

Does a repossession agent need a key to repossess a car?

Answer . No. There are other options available to the repo man. Most of the timethey will just tow your car, no key needed. Other times they will takethe car by slamming the ignition or whatever is required. When the automobile is dropped off at the lot, they will just replace the locks if no ( Full Answer )

If you buy a car how long before you need insurance?

Answer From a Texas General Agent . When financed, contractual obligations generally require full coverage before you take possession of the vehicle.. The legal requirement for liability or Financial Responsibility starts the moment you or anyone you authorize to drive gets behind the wheel.. A ( Full Answer )

How long does a buy here pay here take to get a car repossessed?

Answer . Every company is different..collections start the minute a payment goes past due. Usually the repo starts after 3 pmts are due maybe sooner if there are no communications with the customer or maybe later if someone has managed to stall off the repo.

What is the catch in buying repossessed cars?

The biggest turn-off when buying Repossessed Car: As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the ( Full Answer )

Where can you buy repossessed cars from?

Repossessed cars can be purchased directly from Banks and Credit Unions. Many larger Banks and Credit Unions will simply send the vehicles off to "dealer only" auctions, but most of the smaller Banks and Credit Unions will offer these vehicles for sale on their websites to the general public. If you ( Full Answer )

How long does a company have to wait to repossess a vehicle?

This would be determined by the terms of the loan agreement and the applicable local laws. Within the loan agreement there should be reference to the action that can be taken to repossess the car should non-payment arise.

How long do you need to wait to get a divorce?

It depends on what part of state you were in. You can ask a divorce lawyer how long it takes before you become free for being married. In California at least from 1 year to 1 and half, depending who wants to get what, called "property" In Texas it can only takes 6 months as long as the spouse doesn' ( Full Answer )

How can you buy out a leased car when the lease expired and car was repossessed?

When a vehicle gets repossessed it either goes back to the dealer who leased it, or, and more commonly, it is auctioned by the reclamation company. You would need to attend one of these auctions to be able to bid on one, and even then, a lot of times you have to be a licensed dealer to participate ( Full Answer )

What do you need to be a car repossession?

I will assume you mean a repo guy/ gal. You need a tow truck, clients and big balls. I don't mean to be funny by saying it that way but it's true.

How long do you need to wait to do a cut and polish after a new paint job on your car?

Depending on the paint manufacture(ppg, sikkens, dupont,) usually 24-72 hrs. Also if you baked the paint in a booth, or just air dried. The reason you wait is to let the paint gas off. What that means is let the chemicals evaporate and let the paint cure. If you fail to do this, the evaporation of t ( Full Answer )

How long will Title Max wait to repossess a vehicle?

Title loan companies are notoriously low in patience. Title Max is one of the least patient. The Title Max paper I ran in the past was as new as one week past due. Sadly, in most states, title loans are rarely larger than a couple thousand dollars, and the vehicle can only be sold no more than the b ( Full Answer )

How long will a car repossession be on credit?

Like other credit items in your history (other than bankruptcy) it will remain on your credit report for 7 years. You may be able to have it removed sooner if it is not documented properly.

How long do you have to wait to get a loan after a repossession?

There is a large number of people out there saying "I need a personal loan quick but I have bad credit", and they have no idea where to go to get a loan. They know one thing for sure - they're not going to get none from their local banks, because banks are hesitant about lending money to people with ( Full Answer )

How long can a repossessed car stay on your credit?

Laws vary by state. Seven years is a general rule of thumb.However, there is the potential for it to be perpetual - the lendercan "sell" your debt to another company, who in turn add a fee andinterest, and it remains on your credit report. Ten years is thefederal upper limit though.