May 15 2011
How many car payments can I miss without having my car repossessed?
I recently lost my job and have not yet found a new job. I owe approximately $ 6,000 on an $ 18,000 car loan. Does anyone know the law regarding repossessing. I was just wondering how many payments I could legally miss before losing my car? Any Topic About Cars
his 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
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