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If you are late, depending on who you owe, you can get taken to a collection agency, charged fines and/or have your car repossesed. I actually know two people who couldn't do the payments, it may have been for a couple of months, and their cars were repossesed.
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What has to happen before a creditor can have your care repossessed?
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.
Can you repossess a car that is under your name from a friend who is always late on the payments?
Yes, it is your car.
Car repo in ny?
A car can be repossessed in the state of New York if payments are late or defaulted. The only way to not get a repossessed is to make your payments on time.
If a car was repossessed and you called and said you would pay all late payments why wouldn't they let you have the car back?
Perhaps the car is worth more than the remaining payments!
You have paid your car payments but have late fees can they repossess the car?
Yes, late fees indicate that payments were not made on time, which renders the original agreement invalid and allows the lender to repossess the vehicle if they so choose.
How many days late on car payments before it is repo?
60 days
What will happen to you if your car is 6 months behind in payments and you still have possession of the car?
The lender will eventually repossess the car.
How many late payments before they can reposses your car in California?
by law they can repossess your car if you are 1 day late. However, your best option is to get professional help.
What if you are late 3 days on car payment?
Nothing I believe they only repossess your car if your a month or more off on your payments
In the state of Ga can your car be repo for being two days late?
Usually there is a grace period for late payments; however it is not a requirement.
Can you be arrested for late car payments and you have moved essentially hiding the car?
Moving and hiding property that you have never paid for is theft - in this case, Grand Theft Auto!! The car is not yours - it is the property of the loan lender (they are listed as the legal owner on the registration) - The buyer in this case has violated a written contract by defaulting on agreed upon payments, and the lender has every right to take whatever recourse is necessary to recover THEIR property.You won't get arrested for late payments, but you will get arrested for auto theft. What good is even having a car hidden away that you cannot drive out on the open roads? Give it back - save the headaches.I don't know about being arrested.. But I didn't make my payments and moved... And two years later, they repo-ed my car... Without warning. I walked out one day and it was gone. So... Just be careful, they will find you and charge you fees for having to find you over the years. NO, I don't think you can be arrested because of late payments. The most I believe can happen is that the car dealership will try to find you so that they can repose the car because of late payments. Also you're credit will be affected greatly.AnswerLuckily if you are living in the United States you can not be put in jail for late payments on your car. The US does not punish you for late payments but under most states the person or persons to which you owe the money can have the courts take the money from your bank accounts or payroll check. As far as hiding the car, it's not a good idea, but I'm not sure whether you can be arrested for it. They will eventually find the car and take it just the same.
Can a car be repossessed for late fees we have never been late on the payment but got late fees?
If your payments are current, they're not coming to repossess your car. Trust me, the finance company would much rather have your money than your collateral (i.e., the car).
