Question:

Can a lender repo your car if i am making partial payments?

by  |  earlier

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I did not make my May payment I stopped payment on my May check because it took 3 wks. to post and I made a June payment and last night I made a small payment then I woke up this morning my car was gone. Is this legal for them to take it.

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4 ANSWERS


  1. If you don't make the full payment by the due date each month, you are defaulting on the terms of your loan.   You can't skip months and make partial payments.

    If that vehicle was repo'd last December, I'm surprised they didn't take it when your May check bounced.


  2. Yes, they can.  There is a credit crisis right now, and the banks are cutting their losses.  If your loan was less than a year old, and you're already missing payments, the bank probably decided to take back the car before it depreciated any more.  They probably cannot sell it for what you owe, but the sooner they repo it, the more they can get in a sale.  They have to be worried that you will not maintain the vehicle in good condition if you cannot manage the payments.

  3. Hmmm! Let me see you are not paying what you said you were going to pay.  You have not done that for going on three months.  Have you contacted them and told them what is going on or did you just think that a partial payment would be okay.  

    If you boss gave you a partial paycheck on Friday would that be okay?  I didn't think so.

  4. Yes it is legal. My daughter is hiding out somewhere right now trying to avoid having her car taken.

    She no longer lives with us & hasn't even visited in over 6 weeks but we've had a detective leave his business card on our door looking for her, & tonight a sheriff came to our door looking for her reguarding the car she stopped paying on.

    The car is the collateral on the loan it is all they have to secure the loan. No payment lose car. It stinks but that is how it works.

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