What happens when you hide a car when its up for repossesion?

Question

We are behind in our payments and right now we can't pay the amount owed

Answer 1

You get harassing phone calls and someone following you where ever you go and when you let your guard down your car is gone. Try negotiating payments with them. If its to late don't get pulled over cause it will be impounded than you'll have more fees to pay. Just give it up if your already too far in debt. You'll hate it but its better than what stress you'll end up going through.

Answer 2

Be careful because you may be violating felony or theft laws when you hide a car the bank still owns.

Many banks will work with you if you will talk to them and show an honest effort to make some monthly payment.

Barring that, it sounds like you should call a credit counseling agency. (Look under "Credit" in the yellow pages) They will work with your creditors to consolidate payments into one low monthly payment, they will provide you with free financial counseling and a debt management plan, and they are the mediator between you and the creditors....which means you don't have to deal with collection calls, (etc). Now they will usually keep a percentage of your monthly payment....do not confuse this with the free counseling service they provide. But for people in your situation, this may be the best recourse.

Wishing you all the best -

Answer 3

the company has two choices, take you to court and attempt ot get a court order, ordering you to surrender the vehicle, or use a company to reposses the vehicle. If they do receive a court order, they show up with the police and take the vehicle, if you do not produce said vehicle you go to jail. On the other hand, keep in mind that these repossessors are good at finding the vehicle. Your best bet is to surrender the vehicle voluntarily if you cannot work out a payment arrangement with the finanace company. Most finance companies have the ability to take two months of payments and place them at the end, basically giving you a repreive for two months.

Answer 4

Your getting some pretty good advise here, I handed in a car after an accident and I wasn't happy with the repairs,
it went of to auction and was sold for 2/3 of what was owing on it, left me with reduced payments and a good credit record.

If you can't afford it, hand it in voluntarily, if your poor payment history was just a hickup, speak to the finance co.

Either way your going to have to deal with them.

Answer 5

Unless you have prospects to pay the loan off, you are sticking your head in the sand and just making things worse for yourself down the road. Eventually you won't be able to get insurance on it. I suggest that you go talk to your banker and see if there are any alternatives, if not then the most mature thing you could do is to offer to save them a whole pile of money in repossession fees and hand over the keys so long as someone will give you a ride home.

Answer 6

They will find it at the worst possible moment for you... A friend of mine had hers repo'd last week while doing her grocery shopping. She came out with a full basket of stuff and there was her car going bu-by on a flat bed.
The best thing to do is call them and do a voluntary repossession, it looks better on your credit and also allows you to give the keys back and get all your stuff out of the car. Saving you money in the long run. They will charge you to re key the car you also lose all your stuff in the car and charged to clean it out.
I did a voluntary repo on my car last year and it took them 6 months to come and get it. I had to keep calling them to come and get it. Finally the tow company called and set up an appointment to come get it.

Answer 7

I would probably hide it as well, because if they do reposses it you are screwed.
But you NEED to talk to them, tell them what is going on and MAKE a payment. Any payment, pay something regularly and show them you want to catch up and pay it.
If you will not be able to catch up in a month or so, you need to think about giving them back the car. If you are months behind, which probably you are if they are going to repo it, it takes awhile before they resort to that, you might not be able to afford it.

Things happen, but if you cannot get caught up quickly you need to get rid of the car.
I only say hide it for now if you can get caught up in a month or so and make a payment now. But either way, you need to talk to them and pay something.

Answer 8

Eventually the repo man will find it. Try calling and talking with the lender, the last thing they want is your car, they would rather have their money. If nothing can be worked out and the repo man doesn't find it the lender can go to court and get an order for you to turn the car over.

Answer 9

Pretty much nothing.. thats a civil action not a criminal action...
(i was married once and going through a divorce.. theres still a motorcycle rotting in the desert somewher LOL)

If they cant find and repo it.. chances are it will just be a write off on them for thier tax purposes.. and a black mark on your credit..(which you already have anyway)

Its usually not worth hiring a lawyer for a finance co to take you to civil court.. the lawyer costs more than the car...

Some Repo people are highly motivated though.. I know i used to do that too on the side LOL

Answer 10

Have you called the lender and tried to make other payment arrangements?

If not, that's the first thing to do. Hiding a car that is not yours (if you are making payments, technically its not your property) is theft and you will lose the car and your freedom.

One possible advantage to the situation, you won't need a car in prison.