2007-02-06 05:55:55 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
If a car is repo-ed, most likely the only way to get your car back is to pay off the loan in FULL, That is what most companys do. But if your "payment due" was not payed because of reasons you could not avoid, then you might be able to get your car back and not mess up your credit.
Call the company and try and work out something. Most will work with you.
2007-02-06 06:10:04 · answer #1 · answered by Mike E 3 · 0⤊ 0⤋
It depends on how long ago the repo happened. Banks are required to wait 30-days before sending the vehicles to the auction, this gives the purchaser time to work everything out and get their vehicle back. You need to have all the funds required at the time you approach G.M.A.C. or they will not even talk to you.
The bad thing is even if you do work it out, it will show on your credit as a reclaimed repo. Should never have let this happen.
2007-02-06 07:27:57 · answer #2 · answered by ? 7 · 0⤊ 0⤋
Honestly before you try to get it back i would have the back due payment in hand! Plus the late fees and everything! Otherwise they wont even look at you with a serious attitude! Good luck!
2007-02-06 06:05:19 · answer #3 · answered by ? 3 · 0⤊ 0⤋