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If you are two months behind on a payment can your car be repossed?
Wiki User
∙ 11y ago
First off it is not your car. The car belongs to the lender until you pay for it. Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
Wiki User
∙ 11y ago
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Is it true you have to be six months behind on a car payment in the state of Nebraska before it can be repossed?
Technically they can repo your car after 30 days. Depending on the finance company
If one car is behind and the other is current can both cars be repossed?
No they cant only the behind on its payment can be taken.Even if the same bank is used on both cars only the car behind on payment will be taken.
Can a military members car be repossed?
Anyone's car can be "repossessed" if they don't make their car payment.....
Can your car be repossed before your car payment is due?
No, until you have missed a scheduled payment (at the very least), the lender has no right to the property.
Who is liable if parts are sold from a repossed car?
The person or company that repossed it.
I was two months behind but still pay a payment every month. can the car still get repossessed?
If they are accepting your payments, they probably won't take your car.
How far do you have to be behind on a car payment before your car is repo?
2 payment
You cannot make the rest of the down payment and the dealer wants the car back do they have to give us back your trade?
In Chicago, IL if your car is repossed by the dealer do you still have to pay back the money for the car?
How many payments can be missed before car will be repossed?
Depending on where you have it financed, it usually is between three to four months when they will start the process.
When can your car be repossed?
The most frequent cause of repossession is lack of payment on a note owed to a financing company or bank. The lender can repossess anytime after a payment is missed, but most won't start such proceeding until you've missed two or three payments. Always try to work with the lender before you get too far behind.
Can a car be repossessed one day after a payment was made?
Sure it can, if that payment was not enough to fufill your end of the contract. A car wont be repossessed if it is only a month behind. If you are five months behind, and make one payment, you are still behind... even the next day, when you are only four months behind. One payment may not catch you up. When you purchased the car, the deal was, likely, that you get to drive the sellers car, (seller still owns it till the final payment is made), and the seller gets money from you at stated time intervals, likely once per month. If you broke your end of the deal, you no longer have a right to drive the car owned by someone else. Make those payments on time, then you need never worry about the repo man.
Car loan and the payment is too high can you keep your loan but get a cheaper car?
That would depend on how much you owe on this car. You need to contact the lender and see what can be worked out. Do not allow this car to be repossed. That would compound and already bad situation.
