answersLogoWhite

0


Best Answer

Only if the dealer reports it to the credit bureaus.

User Avatar

Wiki User

โˆ™ 2015-07-15 19:34:43
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
5.0
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
1 Review

Add your answer:

Earn +20 pts
Q: If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What to do when your dealer don't accept your payments after your car has been repossessed?

you take your payments to pay them and say im here to pay them kthxbye


Buy here pay here dealer breached the contract and didn't make the necessary repairs to the vehicle Two payments were not made and the vehicle was repossessed What can we done?

Seek an attorney for a lawsuit! Make sure you have all of these documents for proof. Good Luck with this process! Wanda Improve Credit, LLC


Can a creditor list your car as repossessed on your credit even if they have not repossessed it yet?

Looks like 2 choices here..they made a mistake and listed the wrong account OR they have more faith that they CAN and will repo it than you do...LOL


How will taking a car back to buy here pay here affect credit when they do not report anyway?

If they don't report, then you don't have to worry about it affecting your credit.


Can a buy here pay here car be repossessed?

Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.


How do loans affect credit scores?

Here is an excellent guide to outline how loans might affect your credit score. http://www.moneysavingexpert.com/loans/credit-rating-credit-score It also offers a Credit Checker tool which could prove very useful.


Does your credit rating affect your car insurance premiums?

In the US, yes it does. I'm Canadian and here it does not.


What can you do if a 'buy here pay here' reports your car as repossessed but you still have it?

Offer to buy it.


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

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. With a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck


How much does a repossessed car affect your credit if you are only a cosigner?

Hello, Jamison here, On credit score==EXACTLY THE SAME You CAN try to explane it to the lender, They will listen but they wont care too much,, If its NOT REPO'd Yet put A foot in someones Behind side!!!!!!!!!!!!! If its REPO'd== MAKE THEM PAY IT OFF!!!! This is what the bank wants, And this is the real reason they want A cosigner in the first place.


What score can you have to buy a new car?

It depends on the dealer you are buying from. Some 'buy here, pay here' lots only require that you have a job with minimum income, no credit required.


What will happen if voluntarily let car be repossessed if finaced through a dealer that deals in bad credit loans and not actually a bank?

Now this is kind of a tricky question because if your talking about buy here pay here most don't report to the credit co. trans union,equifax etc.so chances are good it wont hurt your credit but at the same rate it wouldn't help your credit either.But beware if you screwed one bad he has every right to sue the rest of what pants you have off so be fair with whoever your dealing with and always remember to treat others as you would want to be treated.

People also asked