2006-12-26 05:19:37 · 13 answers · asked by cteidel25 1 in Cars & Transportation ➔ Other - Cars & Transportation
Technically, yes. But i doubt it would happen. Just keep in good contact with your loan company. (And park your car somewhere else...)
2006-12-26 05:20:57 · answer #1 · answered by behr28 5 · 3⤊ 0⤋
It all depends on your financing company. I would pay the fee asap at whatever cost. It's really not worth risking, because if you let it go the company that holds your deed really will go after the car.
I had - back in 94- a 93 Red Grand Am. And I fell 2 months behind in the payments. I had lost my job and my dad just died, it was awful. So I did what is called a "voluntary reposession". I don't recommend it, but if it does come down to it, and you simply cannot pay - OFFER to let them take the car (i know,it's drastic but if can't pay) it looks better on your credit than an involuntary repo.
Take care
2006-12-26 13:23:18 · answer #2 · answered by PremiereTalentUSA 2 · 1⤊ 0⤋
a late fee is still considered to be money owned on the car. late fees are tacked on for late payments. either pay the late fee off quick or it can be repod'ed after a certain time. u wont get the title for the car until it's paid in full. until then, the bank has the title, and full ownership of the car.
2006-12-26 14:03:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
UNtil you have the title free and clear the car belongs to the lien holder and they can take it @ any time matter of fack most these days have a set of keys to make it easier
2006-12-26 16:25:38 · answer #4 · answered by Dan the car man 5 · 0⤊ 0⤋
probably. most contracts are written so that if you are behind in any manner the lender can repossess at their discretion. the probability is small though if all you owe is a late fee. read your contract to be sure.
2006-12-26 13:22:30 · answer #5 · answered by SKYDOGSLIM 6 · 3⤊ 0⤋
In order for your car to be repossess you have to be missing payments and be extremely behind, your fine if you own one late fee, the next time your payment is do make sure to pay off the late fee, sooner then later.
2006-12-26 13:21:50 · answer #6 · answered by sarabmw 5 · 0⤊ 3⤋
Read your signed contract and it should state what the repossessed policy is. Take it from there.......
2006-12-26 13:22:21 · answer #7 · answered by Anonymous · 3⤊ 0⤋
no, but it could show a late fee on your bureau
2006-12-26 13:22:44 · answer #8 · answered by Anonymous · 0⤊ 2⤋
LMAO!!! def not, n if the collection agency is saying that thier only trying to scare you!!
2006-12-26 13:21:26 · answer #9 · answered by Sara mary jane 3 · 1⤊ 2⤋
i dont think so.
they just want the money not the vehicle.
2006-12-26 13:22:19 · answer #10 · answered by Anonymous · 0⤊ 2⤋