How long will a bank wait till they come and get the car

Question

cant affor the car payments and the rent

Answer 1

Why don't u try being responsible for ur debt? The question should not be "how long do  I got to keep the car before they take it away?" but rather, what is the most responsible way that I can deal with my bad decisions. For example getting a room mate to defray expenses, a second job maybe .......... What about talking to the lender about lowering ur payments by extending the term?  If the car is worth more than u owe you could sell it, or have someone assume the loan. Most likely u bought more car than u cold afford, and also have negative equity and cant get out of the car, so getting another job is the best plan. You will destroy ur credit by walking away, and ur still going to owe the finance company the difference between what u owe and what they get for your car selling it at auction.

Answer 2

90 days

Answer 3

Call your bank NOW and work out a payment plan. If your car is repossessed, your credit is ruined for 7 years, you'll have no car, AND you'll still owe the balance of your loan after the car has been sold for peanuts at a wholesale dealer auction. Don't let it be repossessed. It will affect your life for many years to come. Try to work out something with your bank first.

Answer 4

Varies from lender to lender. Some wait 3 months, some wait 6 months. Some actually don't let the car go a few weeks late without attempting a repo.