I've been going through hard times and have been unemployed and I know the day will arrive that they'll come and take my car. I can't work with them over the phone because they get so mean and I do understand but when they come will I have any chance after that?
2007-12-18 15:31:16 · 2 answers · asked by summer 2 in Cars & Transportation ➔ Other - Cars & Transportation
You will have a very limited time to either pay the overdue payments and all fees, to they may require you to pay the car off! After that the vehicle will be sold at auction, and you will be sued for any outstanding balance! They will garnishee your wages, and seize any bank accounts that you have to pay the balance.
Your best bet is to make a payment today! As long as you are making payments, they will not come and get the car! When you go over 30 days without paying, you are subject to repossession.
2007-12-18 15:40:26 · answer #1 · answered by fire4511 7 · 3⤊ 0⤋
They'll repossess your can and then it would be economically unfeasible to recover it (they'll tack ENORMOUS fees for repossession, towing and storing the vehicle and they'll want you to pay them cash). If your car is repossessed, your best bet is to buy another one and that's it.
You can get a reliable car for less than $1,000 in an auction. Find out if there's a dealer who would take you to one for a flat fee (usually $399 in California) and avoid getting into another shark loan (they'll lend you to buy another car even after repo, but the interest and fees and hidden costs will mean that that same $1,000 car you could've bought in cash by yourself will cost you up to $7,000 with lots of pressure and aggravation).
Another option, forget cars, get a job that you can get to by public transportation, bicycle or walking. You'll not only save in the car payments, but also in insurance, gas, maintenance, taxes, etc....
2007-12-20 16:08:05 · answer #2 · answered by omarchavezmcse 3 · 0⤊ 0⤋