Can anyone tell me when a dealership comes to repo a vehicle?

Question

How long after the payment do they wait if you can't make the next payment the next month? I had heard it was like 2 months.

Answer 1

Usually they come at night. Or early morning. If you know that you are not making payments. then u need to make sure that your car is secured in a garage. If the repo guys breaks in to the garage. You can have him arrested for B&E.

Answer 2

Typically, it's 90 days. The dealership is not the the repo agent.
The finance company will hire a repo company. If you hide the vehicle, like in a parking lot, or at a hotel (hotels usually have security) and can keep it away from them, you may have a chance to catch up on the payments. Do not bring it anywhere you would frequent (parents, friends, neighbors) Do not bring it to work if it is a place that they can get a pickup truck into. Look for a pick up with dual rear wheels cruising around late at night. Best bet is a parking lot that is busy,(all night store, restaurant, or hotel) If you keep it away long enough, the finance company will send you a settlement letter (don't believe it) offering a settlement. If you catch up on payments, they will send you, or add on a fee for any monies paid out by them to a repo agent.
Bottom line is if you fall more than 90 days behind they will reposses. If you can catch up, do so quickly. If you can not catch up, keep the car as long as possible, and wait for them to settle. Get a bicycle, and put it in the trunk. Drive close to work, and ride the rest of the way. Same thing going home. Just avoid common places. I can not tell you how I know this, I just do.

Answer 3

car loans are not through dealerships but through banks and other lending institutions. most....not all, but most will wait till the 2nd payment is due and that grace period passes by. once this happens and no payment then the car is moved to a repo list. now this part of the process can take one day or 5 weeks, all depends on the bank, what company they are contracting to repo the car, to hold the car and where they plan on selling the car.

if its a buy here pay here car and you are paying directly to the dealer....I'd talk to them before you become late. most of these will take it back the second you are late. So talking to them and being upfront and honest is the best course.

Actually its the best course for either way. Just call them up and talk to them. If you can't send in the full payment, then send in 1/2 or part of it. Some is better than none and it helps keep the car off the repo list.

Answer 4

basically, anytime you default a payment, they can repo your car. it really depends on the lien holder. i work for a car dealership which offers a "buy here, pay here" program. people can buy the car through our dealership and we are also the lien holder, so anytime someone defaults, we send somebody to pick up the car. however, if they call us and tell us that they will be late or whatever, then we give them time. usually if you keep constant communication with the lien holder you can buy time until you make your next payment. if you are having a hard time with paying, make sure you contact your lien holder because they can defer your payments, meaning, they can put this month's payment to the end of the loan. usually we allow this if they have been in good standing. lien holder's realize that emergency happens so as long as you talk to them, they can give you suggestions or options on what to do.

Answer 5

Well, it's not actually the dealership that repos the car. It would be the bank or whoever you have the loan through. It's usually at least 3 months.

Answer 6

yes it is supposed to be three months on the wait time,but most dealers now go after them after the two months is up,their supposed to wait 90 days from the date of the last payment,,but they don't always do this,and another thing bad about them,you might drive it to work,and come out,and it be gone,they have gotten to where they,ll take them now if you walk away from them for a minute,it depends on when your last payment was due for it,but expect them to get in anything over 60 days now,good luck i hope this help,s.

Answer 7

my friend had a car taken when he was only a few days late because he had been late several times in the past so the bank considered him high risk......I think most don't want the car so they would give you some time, but just in case make sure you don't leave anything important in at because they cold take it anytime, anywhere......even when you just run into a store for a couple things.

Answer 8

Yeah, I think if you miss 2 payments they will come for your car.

Answer 9

Your bank or lender is the one who will repo your vehicle. Read the contract that you signed when you bought the car and It will say, or call your bank/lender.

Answer 10

Anywhere between 30 and 90 days.