How long will a reputable car loan bank wait for payment on a car before initiating repossession?
2006-08-22 23:15:57 · 5 answers · asked by Julia D 3 in Cars & Transportation ➔ Buying & Selling
It really depends on the line of BS you feed them, my in-law used to do it for a bank and I believe it was 90 days unless you PO the repo agent. Just remember when they call to tell you if you do not make a payment in the time they give you or they will repo your car they already know where it is. And if repo's done right when you come out of the grocery store you might have to call a cab to get your groceries home. Pay the bill.
2006-08-22 23:54:19 · answer #1 · answered by ocm 2 · 0⤊ 0⤋
A car can be repossed as early as being 30 days late on a payment, and some nasty car dealers will even repo sooner. Better to pay cash for a car. No repo man to worry about. On the flip side talk to the loan company and see if you can put a payment or maybe two payments behind, where you extend yor payments one or two more payments. A good bank will work with you. Best Wishes.
2006-08-25 20:06:36 · answer #2 · answered by Janice 10 7 · 0⤊ 0⤋
Repo Laws verry from State to State. Depends where the Car is what laws apply
2006-08-23 04:09:39 · answer #3 · answered by david786 4 · 0⤊ 0⤋
Depending on the company. Clue: Can't repossess a car they can't find. Not a thing they can do about it.
2006-08-22 23:22:03 · answer #4 · answered by kelly 2 · 2⤊ 0⤋
Depends how fast the dudes can find your car?:)
2006-08-22 23:22:52 · answer #5 · answered by Gaur 2 · 0⤊ 2⤋