How long does it stay on your credit? Will there be any fees involved? How many months of not paying does it normally take before the lender takes the car back? Do they call you first before they send out the tow truck? Thanks

 

story ?

 

You wake up in the morning, and your car is gone. Or you come out of work, and it's gone. I would say if you miss two payments, make sure you park it in a locked garage.

 

The length of time really depends on your contract. Most of the time it's 30-60 days of non-payment before a repo. It stays on your credit for 7 years. After the 7 years is up, you basically start anew. Just so there is no confusion, YES YES YES! There are still fees. When your car gets repoed, it goes to the auto auction. Once it's sold there, your creditor gets, most if not all, the money and applies that towards your loan. You pay off the rest. Yes, I'm sure. I'm doing it now. 9 times outta 10 the financing company will try to work with you before a repo. Even the creditors don't actually want to tow your car. It's more of a pain for them. Any more Q's just gimmie a holler.

 

What if u don't pay the fees

 

would it be better if i file bankruptcy?

 

sell me your car or I continue payment till you recover. ... I get to use the car.. what is your payment ??? how much???

save the BK thing man that is terrible....7 yrs is a long a$$ time..

 

If you don't pay the fines, a rather large man with no neck named "Guido" comes to visit your knee caps. Then they garnish your wages.

 

3 months of "non-communicating" with the bank usually.

If the car gets re-poed, you will have a repo on your record, not sure for how long.

In CA, by CA law THEY WILL LET YOU get the car back IF you pay the due balance within sertain time.

You will have repo fees added. Tow fee, storage fees and some other BS fees. All fees combined will not be more than ~$200-$400.

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If you miss a payment or two, it should be ok. Just call them and say you are having some issues. Just talk to them. They will set something up for you. If you do not communicate with them, they will take the car back. Usually on Sunday night when you least expect it.

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I know all this because I have a pal that works at a repo yard. Autozappers. Those guys are brutal.

 

My friends car got repoed and this is what happens. If you miss a certain amount of payments (the bank decides) the bank will hire repo men to come and take your car. The repo guys take your car to their lot where it will wait. The bank will give you a choice. You can either let the car go and cut your losses or you can get your car back. To get the car back, you will first have to pay the bank for the missing payments and you will have to pay the repo company for holding your car. The repo company will usually charge you around $100 a day. I think that you have 30 days to pay the bank and repo company before the car is auctioned off. My friend could afford the bank payments, but not the repo fees. He owed them around $1000. He decided to not buy the car back. I don't think that he had to pay fees. And I'm not sure about the credit situation. I would call up the bank and talk with them about it. Sorry to hear that your car got repoed.

 

It's as simple as:



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No more problem! Credit's good, loan is gone. Sure you're a felon but who cares!

 

^ yeah.. anything, but get bad credit..

haha
edgar,

 

When my old roomate got his civic si repo'd they actually made a key to get in and start the car. When he picked the car up they gave him the extra key.....

They just came and picked his car up in the middle of the night. He woke up and was like "WTF"...called the police and they told him it was repo'd.

Also, when picking it up, his sunglasses and all of his CD's were stolen, and the police and were not very sympathetic. Damn repo men. By the way he was +60 days late on payments. He had to pay a few hundred for the repo charge, and then a few hundred xtra to his bank.

 

Can you sell the car and try to cut your losses? You don't want to screw up your credit for the next 7 years. Just call the lender like everyone suggested and try to work with them. You will wind up in a better situation if you do.

 

i would do exactly that -- sell the car and use whatever you get for it to pay part of that loan off; then you make payments on the rest. sure it sucks, but when you're in teh rough, you have to swing your way out of it.

bad credit is a nightmare. once you go down that road, it takes so long to get off of it. i know not from experience, but from seeing some friends do it.

bad credit = bye bye house, car, loan, visa, etc.