My loan is overdue, how soon will they repossess the car?

Answer by  mem4dr (1378)

It depends on where you live. Some states have laws that are very lenient towards the consumer, so you might have several months before the car will be repossessed.

Answer by  econmajr1979 (18)

They'll call after you miss the first month. They'll call a lot after missing the second month. They'll send a tow truck for the car after missing the third month.

Answer by  HelpfulAndy (1107)

Call the company immediately and let them know. Sometimes they will give you a little break if you are honest with them. This may buy you an extra month.

Answer by  cynosure (376)

Speed will be determined by the lender's rights under the debt contract and/or local law. Notwithstanding, the lender prefers money to collateral, and might be willing to negotiate before repossession.

Answer by  britt01 (292)

You will usually have around 120 days before they come to repossess the car. Sometimes if you call the creditor they might lower the payment.

Answer by  technogeek (6640)

Usually, repossession proceedings start when a loan is ninety days past due. Once you reach that point, the loan company will begin looking for the car. If you can make a repayment arrangement with the loan before you reach that point, or at least make some payment, then you should be safe.

Answer by  Anonymous

if u r unable to pay, than fire the car infront of the people who came for that. u will get full insurance amount. if they make arguements and problems tell them to get inside u r house and lock, than call police....rest u think..