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You should pay off your repossessed car if you want to fix your credit quickly. If you are not worried about your credit, you can wait to pay off the car or file for bankruptcy.

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โˆ™ 2014-08-28 16:57:06
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Q: Should you pay off your repo car?
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Related questions

Can the repo people keep belongings inside the car?

Yes. once they repo the car the only was to get items back is to pay off what you owe


If a repo has been placed on your car but you pay for the car before they pick it up can they still pick it up?

Contact the lender they are the ones who call off the repo.


If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?

IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.


If you bought a car in Virginia and can no longer afford it can you do a voluntary repo and not have your wages garnished?

A repo is a repo, voluntary or not. Do not do a voluntary repo or any other repo. Terrible idea!!! Call the lender and work something out. See if you can find someone to take over the payments or possible sell the car to another part and pay off the loan. If you are upside down on the loan, then sell the car and borrow the balance to pay it off. Having your car reposed is a very bad idea. Your credit will be ruined for 7 years. You will also have the pay the difference in what the lender sells your car for and the balance on the note, plus repo fees. Do whatever it takes to prevent this from happening. I can assure you the lender does not want to repo your car. Call them!!!!


What does Florida law allow for collection of monies owed on a car repossession?

this question can form a wide range of answers it depends on if you are willing to pay on the repo car how ever the most they can do is put it on your credit and it can stay on there for 7 years it will show on your credit report as repo ..a large number of people never pay off a repo car even if you do pay on it to try and save your credit the fact still remain it was repo and it will show repo settlement


Can a buy here pay here car lot repo after 7 days late?

Some places have the ability to take your car away if you don't pay car lot fees if you are trying to sell your car on their lot. If you didn't sign a contract through them, then they can't repo your car. They will most likely tow your car off the lot and you have to pay expenses on it. If you signed a contract where you must leave your vehicle on the lot for certain amount of days or months then yes they might be able to repo your vehicle if it states in the contract they can. If you are not on a contract of any kind then no they can not repo your car. They will instead tow your car off the lot.


Can you sue the repo people when they put dents in your car?

i think you should because it is your car they are damaging and why should you pay the expenses on something they did!


How can you get back your car from repo?

pay off the debt you owe on the car, and if they trust you enough the company you are making the payments to for the car will continue to give you the car


After repossession does a car dealer have to wait before they can sell your car.?

IT DEPENDS IF IT IS BUY HERE PAY HERE OR A BANK REPO BANK REPOS YOU HAVE 15 DAYS TO PAY THE CAR OFF IN FULL AND 30-60 DAYS TO RETRIVE YOU BELONGINGS OUT OF THE CAR. BUY HERE PAY HERE LOT WILL GIVE YOU YOUR CAR BACK AS LONG AS YOU PAY THE REPO CHARGE AND YOUR BACK PAYMENTS


You still have your car but the repo man called and told you that he needed to pick up your car what do you do?

Get hold of whoever it is that you should have paid money to (bank, car dealer...). If you can, pay what you owe, or agree on another payment plan. Once you and the lender have reached a new agreement the lender can call the repo off, and you'd get to keep the car.


Can you pay only part of repo fees to get your car back after a repossession?

YES, even though the repo may be expensive you may only pay part of it. Even though your probably better off just buying a new vehicle because you have to pay all of the repo


If repo company is after car you bought but previous owner did not pay off what can you do to get title?

Try to buy it again.


Can you self repo your car?

Yes, you can self repo your car if you can no longer afford your car and is financially unable to pay the payments for your car.


Should you trade your car in or pay it off?

pay it off


If you voluntarily relinquished your car due to your unemployment status can you be subpoenaed to pay the remaining balance after they sell the car at auction?

They are not lying to you. A repo is a repo is a repo.


If you want to get rid of your car for a cheaper one but owe too much what options other than repo do you have?

SELL the car for all you can get and beg,borrow,steal the difference so you can pay off the loan. THAT will keep the repo off your CR. Good Luck


If your car is out for repo but has been totaled in a car accident are you still repsonsible for the payments or will the insurance company pay off?

Your insurance will only pay off what the blue book value of the car is, whether that's enought to pay off the vehicle is unknown to me. If you owe $7k and insurance says the car is worth $5k you owe the $2k difference.


If a repo company comes to get your car can they still take your car if you pay the amount owed before they have a chance to get the car?

as long as you are in DEFAULT of the contract, they can repo the car. Dont forget the time element involved between you paying up and the repo co. being notified that you did pay. Have your reciept ready to show the repopeople that you DID pay and WHEN.


If you cosigned on a car loan and the car got repoed can you get the car back if you pay the loan off?

Yes, You are still considered a signer of the note. You will have to pay repo costs and any other charges that may have occurred, but you have every right to get vehicle back. talk to your bank where the loan was processed and they should help.


What can you do if your car is going to get repo?

Pay your payments on time or get a cheaper car


When in chapter 13 and the pay off money is at the court trustees office to pay off loan can they still repo the car?

If you are currently in Chapter 13 and you HAVE NOT signed a relief of stay, they cannot repo vehicle. If you signed a relief of stay for that vehicle loan, then get your stuff out and leave the keys in the ashtray.


You get notice of possible repo you try to pay off balance plus an extra two months with penalties and fees Creditor doesn't accept and repos the car Do you still have to pay the balance after auction?

Yes you you have to pay the balance left plus the fees associated with the repo and auction.


How much does the repo man get per car or truck or motorcycle?

10% of the pay off they wont take it from you and let you keep your ride....


If you had a car repo do still have to pay?

Definitely yes


Repo will come off your credit in one year however you am getting a new job that is requiring you to pay off all your neg credit including repo So will this reopen your repo case if you start to pay?

It may reopen the repossession case, but once you pay, item will be noted as paid which should improve your score. Plus, you will have that great job and the negatives on your credit will be resolved.