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Most states give a 10 day grace period. Check your local/state law online. But just like any other loan, if there is no statement in the loan about when a repossession can take place, it's generally 3 payments in arrears (again, check your state laws).

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โˆ™ 2015-07-15 19:31:56
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Q: If you have bought a car from an individual and signed a note with a payment date of the 15th of each month do you by law have a grace period?
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Related Questions

You bought a car for a friend that signed a pmt agreement You repossessed the car from the individual for non-payment The individual got a payday loan against the title Who owes that money?

Who ever signed the pay day loan contract owes the money. You bought the car for the friend so the title should have your name on it until such time as you have been paid for the car and you sign over the title to the person buying it from you.

Can a used car lot take you to court for non payment in Texas?

If you have bought a car from them, signed an agreement and have not paid then yes they can.

What are the car return laws for Arizona?

if i signed a contract saying no cooling off period but bought my car off site at a tent event do i still have the 3 day recession period?

How long can you wait to make a car payment?

Until the end of the grace period as spelled out in the contract you signed. After that, they can reposes the car. Talk to your lender if you are having problems.

Are you entitled to your deposit back no paper work has been signed?

Where I live a deposit is a payment to hold the vehicle.Please note I said paymentSo no, if you put down a deposit, you are paying us to not sell the car for a period of time.This payment is credited against your purchase but not refundable if decide not to buy.

You bought a vehicle from an individual on Friday you knew there was something wrong but did not know for sure what can you return it if you signed a purchase agreement that states sold as is?

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Is there a car-buyer's remorse law in North Dakota if the only agreement or contract is a credit card down payment is made over the phone?

There is no buyers remorse or cooling off period on the purchase of an automobile. That is nothing more than a myth. You have not signed any papers yet, so you have not bought the car. You may loose the down payment, but I would not think you will have to go through with the purchase. As the dealer if you can back out and see what happens.

You bought a used car you have not taken possession yet Can you change your mind?

In most states if you have signed a contract or bill of sale then no you can not. Check your state laws for a "cool off period".

It is always best to have invoices signed for approval after processing for payment?


Do they have to send you a letter to let you know your car payment is due?

NO, you know when your payment is due. It is listed on the contract you signed. Miss a payment and they can repossess your car then next day.

What are the laws on reposession in the state of Colorado Pretaining to the time limit of seizure of a automobile due to late payment.?

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Who bought Florida from Spain?

The United States bought Florida from Spain. The Adam-Onis Treaty was signed in 1819 and Florida was bought as a part of this treaty.

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$900; $1000

Can a mechanic repossess a vehicle from private property with no signed work order for non-payment?

Ill answer this in parts. Mechanic repo? YES Private property? YES No signed work order? ORAL contracts are legal too Non- payment? why else would he be "repoing"?? You need to make a deal of some sort, namely PAYMENT

Can California landlord modify renter's method of rental payment?

A renters monthly payment can only be modified in a contract. If the contract stipulates a certain method of payment and it is signed, then they can hold the renter to that type of payment. They cannot suddenly change the type of payment.

Can a dealer refuse to refund a down payment if you refuse the car?

Depending on what you signed when you made the down payment, yes. Take a look at any papers you signed. Depending on the size of down, take them to small claims court.

In the state of Michigan how many days do you have to cancel a used car contract?

If you have signed the contract and taken posession of the car it is yours. There is no cooling off period on the purchase of an automobile. You bought it, so you own it.

Have arsenal ever bought cronaldo?

no only man utd have signed him on

If a subcontractor signs a lien release form before final payment can they still put a lien on project?

They signed the release expecting final payment. It may have had to be done for them to receive payment, as a bookkeeping measure. In all honesty, they should be paid the full amount whether they signed their rights away or not.

Can you get your down payment back on a car even if ive have not signed any papers?

A person should be able to get a down payment back on a car if papers have not yet been signed. Only after the papers have been singed is the purchase official.

If you signed all the paper but did not make the down payment can you back out of the car deal?

If you signed all the papers but did not make the down payment, can you back out of the car deal? No, once you sign the paper you are locked in. If you back out you will take a credit hit.

How many payment's can you defer a car payment?

Depends on the contract you signed when you borrowed the money. With most lenders they can reposes their car if you miss one payment.

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How do you write a loan payment receipt?

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What is the time allowed to return a new car in South Carolina?

Depending on the contract and the terms that you agreed to. Talk to your dealer to point it out on your contract that YOU signed. There is NO cooling off period on the purchase of an automobile unless the dealer agrees to it. Legally you bought the car and you own it. If you bought it new, it is now a used car and worth allot less than the day you bought it.