more times than not they will work with you. Communication is key. You can also ask them to add the current payment to the end of the loan cycle if that makes any sense . Lets say ur estimated to finish paying the car in 18months. They will skip a payment and you will finish paying in 19months. They want you to pay and not repo your vehicle. They loose tons of money when they repo your car. All cars depreciate and the car usually is not worth what you owe, so the banks/lenders loose money, big money when they repo. The car is usually auctioned off for little to nothing and the banks take a HUGE loss. Call them up. Talk to them. Tell them your story and that the car has depreciated more than the average car due to the mileage put on the car. They will make arrangements with you cause the car isnt worth as much as they thought (they dont know ur mileage) as soon as they realize the car will not sell for much after repo they will work with you, they figure they can get more from you with payments/interest than they will get with the repo/auction. Hope this helps

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It depends on the lender. Some will do it as soon as falling 30 days behind and some as far out as 90 days. In most cases they will inform you that repossession is a last resort. When you stop receiving collection calls then you will know that the time is near. Let me at least offer you a best of luck to you in hopes that it does not come to this.

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No bank wants to repo your car, it is in their best interest to allow you to keep it. Call them and explain whatever is going on and make arrangements to get current. They will work with you as long as you hold up your end of the agreement.

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The bank lady (who we don't get along with) called and said my payment was due on the 19th and she's gonna repo. i'm not behind other than that..and there is a 15 day grace period that she's not giving us. we have been behind in the past but are caught up. can she legally reposess the car for this few days late? i always though you had to be 2 full payments behind before they could repo.

No - I worked in Finance for several years and this a scare tactic. They can not repo your car until at least 60 days . There are several legalities you have to go through 1st . In most cases you will be sent a letter regular mail and then a notice to repo letter sent certified. The company will in most cases if its local where you live will do a " chase " which just means they will come to your house and leave a letter on your door if there is no contact . This Collector was a little out line stating she could repo your auto with in the " grace period " . BUT since you have been late in the past that's why they are continuing to call you and give a " reminder " your payment is due . Just keep in contact with the company and pay on time and you will not have these calls . Good luck

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I haven't been late,but my financial situation it's getting bad.

After the car is sold your financial obligation becomes the loan balance less the net sales price of the car (the price less repo costs and selling costs). The bank will usually demand immediate full payment. IMO, since you haven't been delinquent yet, you are better off arranging to sell your car on the open market; using the proceeds to pay down (or off) the loan; and arranging to pay any balance under mutually agreed terms. RJ

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I made a verbal agreement with the bank to pay a certain amount of the past due amount and they will defer a couple of months. i sent them the money via money gram but they have not updated my acct to say current online. can they still repo even though i made arrangements and paid accordingly?

GET EVERYTHING IN WRITING!!! Yes, they still can repo your car, depending on how much you've sent. It has something to do with how much you've sent and how many months behind you are. Contact your lender NOW and work something long term out. It shows you care, and does go a long way in making progress. Don't wait too long, as this will affect your credit score...which makes it more likely your car gets repo'd.

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Not having a job sucks, and am already a few days late on this months payment. i'm just wondering how many months of non-payment it takes for the banks to repo your car.

You need to call them today & see if they will defer the payments for 60 days before they start repo proceedings. This will save your credit & hopefully you can find a job. You need that car to get a job so they can be paid. You'll pay a small penalty as expected, but it's cheaper than having your credit ruined for a decade.

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My bf's truck has a messed up computer system so only the dealer can reprogram. he owes wells 4 months and they're looking for the truck now to repo it. if he takes the car to the dealer to get fixed can they take his car away and repo it? also, if he makes 2 months worth of a payment can it get out of the repo dept with wells and then in 2wks make the other 2months worth of payments?

they can still repo it because he defaulted on the payments but if you call the bank and make arrangements then they will not repo it..hope this helps.. o.O

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I got different car loans from the same bank. i of the car loans is in default due to 3 late payment caused by my son. the other is up to date, i wanted to know if they will just repo my son car or will the also take mine even though my payments are up to date. the thing is both cars are in my name. thanks in advance

I have personally experienced this problem. My ex wife let the car get repo'd and the bank came and got my pickup too. Look at your contracts with the bank and way down in the fine print it will say somewhere that if you default on a loan then ALL of your assets with that bank are subject to forfeiture, this includes any other loans secured by collateral, savings accounts, checking accounts, or any other thing you might have with the bank. Find a way to get the vehicle caught up even if it means taking it from your son and selling it so that you can retain your good credit, and your mode of transportation. Good Luck

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They were notified and never bothered me. now, ive gotten behind on the payments and the loan shows cleared and paid in full on my credit report. obviously the bankruptcy court took care of thatbut i was wondering what happens if i never make any payments. by the way, it is a lease...please help. thanx!

They have your debt secured by the car. Fail to pay the debt, then they can take the car. Bankruptcy does not eliminate secured debt.