Anyone ever had a car repoed? What happen?

Answer 1

You must be at least three months behind on your payments before they can come and tow your car away. To get it back you have to get current on the loan and pay towing and storing fees. A big chunk of cashola.

Embarrassing, humiliating and expensive. It's easier to scrape up the payment.

Answer 2

I repo cars so I guess I can tell you what happens.
If you make a promise to pay and then for whatever reason you do not pay, the bank pays someone to bring the car back to them.
Some states make the repo person call and tell you they are coming, others do not. Usually, someone will call and ask you to catch up your payments. It is best to offer the car or set up payments. The worst thing you can do is hang up, argue or ignore the calls. The car will most often be picked up in your driveway day or night. It may also be taken from your place of employment. If your car is repoed you just need to call your bank and set up a repayment plan and catch up your late payments. Most will give you 21 days to catch up. Banks do not want your car so most will work with you. If you do not or cannot catch up the payments the car will be sold and you will owe the difference between how much it was sold for and how much you owe.

Answer 3

We did...(it sucked)!! We got up one morning and thought the Jeep was stolen so we called the police. The police told us the car had been repod and gave us the # of the company who had it. We had to go there with the back payments and current payment and I think a repo fee but can't remember that. It was quite a while ago. We were told that they can put that on your credit report but we were fortunate that they didn't report it. It's a really awful thing, if you can prevent it. do it..very embarrassing!!

Answer 4

Now days... cars can be repo'd for many reasons... My auto loan names several... Besides the obvious of not paying, mine lists "allowing the vehicle insurance to lapse for longer than 24 hours amongst other things...