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Repossession

When can they repo your car after a missed payment?


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Wiki User
2004-12-25 15:35:50
2004-12-25 15:35:50

It differs by states. Some aloow 10 days ,some until the lender makes a sale on the repo. Check with a local attorney.

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I missed my payment on my jeep and they repoed my other car. Can they do that

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You will have to speak with your finance company to determine when they will repossess your car. Each company has different rules and requirements and in most cases if you contact them about the missed payment they may be able to make payment arrangements with you.

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Legally, your car could be reposessed after one missed payment. The terms of your contract cover default. Most will not repo your car after just one missed payment, but they could. I would certainly suggest attempting to work something out with the bank.

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Not making the entire payment is still a default on payment. You will be charged the late fee and you will need to make it right with the bank or they will start the process of repo.


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