Comments on: How many car payments can I miss without having my car repossessed?

By: Jason K

Jason K — Sat, 28 Feb 2009 00:12:48 +0000

Well It all depends on the bank.every bank is diffrent they might try to work with you not sure exactly.

By: Ham B

Ham B — Thu, 26 Feb 2009 18:04:52 +0000

If you are late on one payment, it is enough of an excuse to repo the car. Usually there is a grace period, though. It generally is about ten days.

By: phillip w

phillip w — Thu, 26 Feb 2009 06:22:23 +0000

If you wake up and look outside,or go to the garage and it’s gone,it,’s to late.
it depends on who you bought the car from.A dealer will work with you,but don’t expect any
favrites.If you lost your job,how will make payments and catch up.
I’m afraid your gonna looseit.Dealers make big money on repos and reselling.
JUST try to work a deal.
Some dealers have a Grase period,but the missed payments you missed will be added on the end.

By: Del S

Del S — Wed, 25 Feb 2009 17:23:10 +0000

Well That Deals Alot With Your Loaner(Lender), How Many Payments You Miss And How Long Your Account Is Delinquent Go Hand In Hand. Most Of The Time After 2 Or 3 Missed Payments And No Response From You As To Why Will Raise Red Flags. Most Loaners(Lenders) Are Willing To Work With You On Things Like This Some Offer The Option To Skip A Payment At No Cost To You Or No Penalties Ask About It. It Dependes On How Many Payments The Loaner(Lender) Will Allow You To Miss Before They Hand Your File Over To A Collection Agency. Everyone Falls On Hard Times So Just Talk To Them And See What They Say. If Not Hide Your Car And Just Make The Payments When You Can. Tried And True.

By: Rain

Rain — Tue, 24 Feb 2009 10:06:51 +0000

This is tricky -First off after you miss 1 payment -then can take it (legally) However, you really need to inform your LENDER of your situation and see what they can do to help -sometimes they can take 1 month and add it to the end of your loan to buy you some time. If its a Buy here Pay here -there the toughest and less likely to care and just take it. My Toyota Tercel back in 1996 was repoed after just 2 moths no payment -dispite the calls we made to them. And it was financed through a regular bank. Call your lender now -dont wait and get employed soon

Good luck

By: MrCriticon

MrCriticon — Sun, 22 Feb 2009 05:53:14 +0000

they don’t go by months they go by days…
if your lender doesn’t recieve payment for 90 days
they will put your account as default and regardless of how much you owe it will be repossesed!
you already paid 12,000 dollars so they are going to try to get your car with in the first week of those 90 days..

good luck…………………………………
i

By: doug0102

doug0102 — Sat, 21 Feb 2009 02:40:04 +0000

They have the right to start repossession even after you miss one payment, but usually they go after you after two missed payments.
If I were in your shoes, I’d call the financial company and try to make arrangements. If you were always on time with your payments in the past, they might be willing to work with you (let you “postpone” a couple of payments or something like this.) What do you have to loose, if you try?

By: kathy c

kathy c — Thu, 19 Feb 2009 11:25:06 +0000

you can miss 2, and on the 3rd they can repo.

By: snowbirdbabe

snowbirdbabe — Tue, 17 Feb 2009 03:11:04 +0000

It depends on the lender. Most banks will work with you if you let them know right away what the situation is. I would say 3 or 4 payments tops. But, hopefully, you will be back to work before that happens. Talk to your bank.

Good Luck.

By: Scott H

Scott H — Sat, 14 Feb 2009 17:13:36 +0000

I believe it depends on the lender and the state you live in, but the repossession process usually starts at 60 days past due. It would be to your benefit to talk to the lender NOW, before you find yourself in this situation. They might be able to defer a payment or two until you’re working again.