Toyota Corolla
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Repossession

What to do after paying off a car repo?

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Wiki User
2006-02-26 03:08:26
2006-02-26 03:08:26

Make sure it is recorded correctly with your creditor and the local credit bureau

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Related Questions

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If your paying for the car, they cannot!

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The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.

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It won't fix it, but paying off any remaining debt from the vehicle should help your credit rating. Unfortunately, a repossession will linger on your credit report for about 7 years.

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

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Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.

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NO. What this will do is satisfy the debt only. This will show in favor on your credit, but it will still show as a repo. You are better off paying the debt. If you are doing this, make sure to have them issue a satifaction of debt letter to the credit bureaus. This will increase your score.

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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.

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they would more than likely take your car!! Repo your car and bad mark on your credit history.

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Yes! Even if you've payed 99.999999...% your car will still be reposessed.

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If they can't find it & you can't drive it; what difference does that make? How about doing the right thing and paying for it?

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After a repo you have the right to get your belongs out of the car and your tag off the car.

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First question is, was there a repo? Was the car NOT worth repoing? The lender doesnt have to retrieve the car on any certain day. You still have the option of paying off the loan.

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Depends on the lending institution but the S.O.P. (Standard Operating Procedure) for most is 3 months.

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Will i be able to purchase another car later on if my car is repo

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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!!!!

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can my car be repo 38 day's in default?

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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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Absolutely, and in most cases it will be!

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Q:Can you get an apartmet with a car repo? A: All apartments come without a car repo option. Sometimes you can negotiate utilities, however

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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

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want to know if my car is on a repo list


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