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Mike, READ the contract you signed agreeing to do certain things in exchange for a car. What does it say about if you are in DEFAULT? If you dont perform any one of the conditions of your loan, they you are in default and can be repoed.

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โˆ™ 2015-07-15 19:31:39
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Q: If you do not pay the down payment to the dealership within the agreed upon 30 days can they repossess your car?
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Related questions

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.

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There are many cities in Australia that have a Volvo dealership. Sydney, Australia is one of the many cities in Australia that have a Volvo dealership within the city limits.

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Can a bank refuse a payment on a auto loan?

Absolutely. There are other reasons other than a late payment for a bank to repossess your car. Cancelled insurance or a big drop in your FICO score. If you seem like a credit risk to your bank all they have to do is wait for you to become delinquent once and they have the legal right to default the loan and get the asset back. At that point they can refuse payment and keep the vehicle in most states. The only way is to pay off the full amount of the loan within 10 days.

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I owe 4 payments on a car but the total left on the car is more than the 4 payments the bank said that it is like that because of late payment fees can they repo if i pay just the 4 payments.?

Late payment fees are agreed upon by you when you sign the finance contract, yes you owe the additional money as long as their addition of the fees is within the guidelines stated in the contract.

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