2006-10-11 15:52:41 · 6 answers · asked by pissinginthewind 1 in Cars & Transportation ➔ Buying & Selling
Depending on the finance company, you can be repossessed if you are one day late on a payment! Usually, they do not start repossession until you are 2 payments behind, but this is one day after your second payment is missed. If you have a history of late payments, they are more likely to repossess the car earlier than if you have been paying on time or early for a while.
I have seen buy here pay here dealers repossess a car if a payment is a couple of days late.
The best thing to do is contact the finance company and work out something to get your payments caught up!
2006-10-11 16:47:52 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
Generally they do not want the car back, call them and negotiate some sort of alterative payment plan, it's in yours and the financers best interest. BUt to answer the question about 3 payments and you may not find the car were you left it. Call them and work someting out, it a ***** to try and buy a car with a repo on your credit for like 10 years!!!
2006-10-11 22:59:15 · answer #2 · answered by twjull 2 · 1⤊ 0⤋
Three months. After you are three months behind, don't be surprised to see your car towed.
As an earlier answer mentioned, you should get in touch and try and make arrangements of some kinds. Believe it or not banks don't want to repo your car, they would rather you keep it and get caught up. Also, you REALLY don't want a repo, if you get one you will probably not be able to finance a car or a home for many years to come.
2006-10-11 23:02:50 · answer #3 · answered by ZCT 7 · 0⤊ 0⤋
they actually wait for three months. the best thing is for you to negotiate some kind of plan. some banks will let you put payments at the end of your regular loan! if it's 60 months you can do 61 or 62 months!
2006-10-12 01:21:59 · answer #4 · answered by mjkid2334 2 · 0⤊ 0⤋
3 months, but the have to find ou after that. If you call and communicate you can make an arrangement and save your credit and your car.
2006-10-11 23:01:38 · answer #5 · answered by mss04 3 · 0⤊ 0⤋
i own a repair shop,and its normally 90 days not working days but calender days if after that you don't make any payment they issue an order of re-possession on it,its that way just about everywhere now,good luck i hope this help,s.
2006-10-12 00:04:08 · answer #6 · answered by dodge man 7 · 0⤊ 0⤋