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Each lender will have different time periods they will allow before they send out an order for repossession, and their terms will usually be stated in the contract which you signed for your automobile loan. Technically, they could send out an order for repossession the moment you're declared delinquent on a payment, but most will usually wait at least a month before they take this course of action.

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βˆ™ 2010-01-26 04:03:31
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Q: When can a lender repossess your car?
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Related questions

Can a sheriff repossess your car for your lender?

Well to put it simply..... YES


What can you do with a lender when you can't pay for the car anymore?

You can contact them and sometimes you can work out a deal with them. If not, you can allow them to repossess the car. Contact the lender and they will tell you where to take the car.


If you are threatened with a repossession can you pay the balance before they repossess the car?

IF the lender accepts it you can.


Can a car dealership repo your car if you already have a lender for the vehicle?

The DEALERSHIP won't repossess the car, but the lender might if you don't make the monthly payments as scheduled.


What will happen to you if your car is 6 months behind in payments and you still have possession of the car?

The lender will eventually repossess the car.


Can a lender repossess a car if you do not pay down payment?

Yes, you made a financial pbligation by signing the documents for the sale of this car. So, they can legally repossess that vehicle.


Can a lender still repossess your car after a lawyer told you to tell them that you were claiming bankruptcy?

The lender has to get the STAY lifted before they can repo.


Does the lender have to send you a letter to notify you that his repossess your car in G.A.?

yes because they have to notify the owner


Your car was seized on a judgment now your lender wants to repossess it from the sheriff and give it back to me can that happen?

No.


How long after you dont pay your car payment is a car repossessed?

Depends on the contract you signed with the lender. Read your contract. The lender does not want to repossess your car. Contact the lender immediately and work this out. The worse thing you can do is not do anything. Let your car be repossessed and you will ruin your credit for 7 years and pay the difference in what the lender sells the car for an the balance on the note. Bad idea. Work it out!Depends on the contract you signed with the lender. Read your contract. The lender does not want to repossess your car. Contact the lender immediately and work this out. The worse thing you can do is not do anything. Let your car be repossessed and you will ruin your credit for 7 years and pay the difference in what the lender sells the car for an the balance on the note. Bad idea. Work it out!


Can they repossess your car the day after they receive a partial payment?

As long as you are in DEFAULT of the contract, the lender can repo the collateral.


How does a lender get a judgment against you for a loan when they repossess a car?

You owed more money than the car was worth and they wish to collect the balance.

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