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Read your contract. It should specify when you are in DEFAULT and what can happen when you are in default of the contract. Lenders DONT want your vehicle, they want the MONEY. But, they have to draw a line somewhere. If you stay in contact with a lender, make an effort to pay something and dont hide from them, most will work with you to keep you going. However, they all have their limits.

Answerdepending on who the repossesser is, the company i work for in the U.K. gives 4 months. a penalty or administration charge is added after the 2nd month is missed, this can be between £20 - £100 then another charge is added after the 3rd and a threat with legal action, and finally at the 4th the debt is passed to the repo-men and a court case is filed for.

This depends on the finance company which you signed your agreement with. The time varies, some have been known to attempt to repossess a vehicle immediately after one payment has been missed. Typically the repo man will come and repossess a car after 3 missed payments.

LEGALLY JUST 1 DAY! THEN REPOSSESSIION WILL BE PUT INTO PLAY.. SOME LENDER MIGHT GIVE YOU UP TO 30 DAYS.. THE LENDER WILL LIE TO YOU AND TELL YOU NOT TO WORRY MEANWHILE HAVE YOUR CAR REPOSSESSED WHILE YOU'RE AT WORK OR SLEEPING OR SHOPPING....
3 mos. is pretty common but it may depend on each individual loan company and how many times you have been behind. It really depends on the company. I know with some companies about a month or two and they are calling you. Other companies it can take 6 months before they want the car back. If you can make small payments to them call them up and let them know. I have had a family member that got in some hard times and he called up the company that he paid his car payments to and they allowed him to pay what he could. They said that they are more willing to do that then repo a car.
This depends 100% on your bank

They may allow you time

BUTThey can take your car if you are 1 minute late with a payment
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12y ago
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12y ago

3 mos. is pretty common but it may depend on each individual loan company and how many times you have been behind. It really depends on the company. I know with some companies about a month or two and they are calling you. Other companies it can take 6 months before they want the car back. If you can make small payments to them call them up and let them know. I have had a family member that got in some hard times and he called up the company that he paid his car payments to and they allowed him to pay what he could. They said that they are more willing to do that then repo a car.

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8y ago

Your contract most likely states that the lender can demand payment in full at anytime. This means they can repossess the vehicle after demanding you pay it off. If you are 5 days late, they could repossess it. There is no legal requirement for the lender to wait any amount of time before taking your vehicle.

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18y ago

Depends on the lienholder's policy... Usually it's 60 days on a new car through a reputable bank, some are 90. Some used car loans will grab it after 30. Lesson: Pay the loan on time! YOU ARE CORRECT IN PRACTICE!!! In practice banks repossess at anywhere from 45 to 90 days past due. In some situations they may wait even longer. But legally it depends upon your contract. Some contracts allow loans to be in default even after a day. This happens usually with those "BAD CREDIT!!NO CREDIT!!"high interest lenders that lend to people with past and present credit problems. They will repossess within a few days after a payment is missed (in some cases even when the payment arrives 2 days late and the process has been started to repossess). Most banks declare the account in default at 60 days but report it as delinquent at 30 days past due. This allows banks to begin the repossession process at 31 days past due

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12y ago

Untill the re-po man finds you, could be a day, could be never if you're good.

But usually the bank wont send a re-po man until you have become very very late, few months give or take.

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Q: How long do you have until your car is repossessed?
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How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


How long can they try to collect money from a repossessed car?

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How long overdue until your vehicle can be repossessed?

Technically the car can be repossessed when your loan becomes 30 days late. The industry standard is to start looking for the car after 90 days. This is for large banks. If you purchase a car at a 'buy here pay here' lot, they WILL take the car on the 31'st day.


After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?

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What happens if you get your car repossessed?

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How much time in the state of Massachusetts do you have until your car is repossessed?

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