11 days late on car payment will ford credit really repo car?

Answer 1

If your payment was 42 days late, then your next payment was 11 days late, you are still late. Companies used to be forgiving about occasional late payments, but in todays climate are becoming more aggressive. I would not assume they are bluffing unless you are willing to wake up one morning to your car being gone. If you truly do not have the money to pay, you can contact them and explain your situation and ask if you can send a lesser amount per month until your situation improves, especially if you can show them your situation is temporary. They might not agree to do so, but what have you got to lose? I'm thinking that as long as they are continuing to get money from you, they will not want the extra expense of having to repossess and resell.

Answer 2

Do you really want to risk finding out? As long as they suspect you will continue paying, it is in their best interest to let you continue because they are recouping the money they loaned you and are making a profit off the interest from those payments. It costs them more money to have to reposses the car, so they not only lose the money they loaned you, but have to spend more to try to get out of it what they can by repossessing it and reselling it. But, yes they really do repossess cars and for the most part, it is up to them how long they choose to wait before doing so. If they suspect you are not going to pay, they might decide to repossess it rather quickly rather than risk you disappearing with it.

Answer 3

There is a risk of repossession if you are significantly behind on your car payment. It is important to contact Ford Credit immediately to discuss your situation and explore options to bring the account current to avoid repossession./repossession