Auto Loans and Financing
Repossession

When your car gets repossessed after 2 months of non payment can you get your down payment back?

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2012-04-22 00:05:06
2012-04-22 00:05:06

No once it's repo'd you either have to work it out with whoever financed the vehicle to get it back or your at a total loss. And banks will sell the vehicle at an auction to the highest bidder which most likely if you just got the car will be thousands less than what you just financed it for,which you'll also owe on top of your loss.

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No, your down payment and any other payment you have made will be put to your subtotal for the car.



YOU HAVE TO HAVE A GOOD DOWN PAYMENT, IF YOUR CREDIT IS GOOD ENOUGH YOU DON'T HAVE TO PUT A DOWN PAYMENT,WARRENTY FOR 12 MONTHS, CASH BACK


Your down payment was used to purchase the property and was paid directly to the seller. You don't get it back.


YES, usually you pay MORE down payment and/or higher interest rates.


A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.


Take your papers down to the dealership and discuss it. Unless they picked up the wrong car, it is likely you missed a payment or so.


If you signed all the papers but did not make the down payment, can you back out of the car deal? No, once you sign the paper you are locked in. If you back out you will take a credit hit.


This question can not be answered in months, days and hours, it depends on several things. How much do you consider LARGE,ect. how well you do at rebuilding your credit rating, how well you know the loan officer. Could be 6 months or 6 years.


A person should be able to get a down payment back on a car if papers have not yet been signed. Only after the papers have been singed is the purchase official.


No, you do not. It's a down payment, not a security deposit.



I wouldn't think that you would be but I don't know what the law is. Do you have anything in writing?


A down payment for select buyers is $360,000


The duration of No Down Payment is 1.75 hours.


Can you get your down payment back after one day for a motorcycle in Florida


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


Debit down paymentCredit Cash


Essentially, they are lowering the price, not providing for your down payment. Also, the lender is going to want that money to come from your account... This is ONE way there are others where lenders will gift you the down payment which comes back to them at time of closing or just find a 100% lender.


When you put down a down payment the price is already set. You must get them to come down before you agree to purchase which is what your down payment represents.


On any contract purchase, you have 3 days to back out and get your money back.


It is very difficult but if you have a good relationship with the bank they may allow you if you pay some of the debt down.


The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.


400 down payments : 1200 = 1 down payment : 3 payments or 1/3 dp : 1 payment



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