Im curious! My car has been repo ed, and I would like to get it back is it POSSIBLE?

Question

If I contact the bank before my car is sold to see if i can catch up my payments and get my car back? Do you know if they will let me?

Answer 1

yes make payments duh

Answer 2

The bank will want their money back. You can always try to refinance with another lender. If you can pay what you owe, the repossession fees and storage fees charged by the repossessor, show proof of full coverage insurance, then they will most likely give it back. Depending on the state you live in, the laws are different. In Arizona, its a right to repo state, and even if you paid them what you owed on the vehicel, they still have the right to auction it. The bank doesnt want to auction the car for pennies on the dollar of what they have invested. If they sell the car, the repo man gets his payment first, whatever is left over goes towards what you financed. If it doesnt cover the amount you financed, you will still owe them money and they can sue you for it. If they get more money than what you owe them after the fees, then you will have a check sent to you with the left over balance. Dont expect to recieve money though. I bought a repossession last week for $0.55 cents on the dollar of what the of the left over $4,000 he still owed on it. If you get another car, buy a repo.

Answer 3

Yes, you should be able to work something out with them.

Answer 4

>>  If I contact the bank before my car is sold to see if i can catch up my payments and get my car back? Do you know if they will let me?

Only if you pay them in full.  They basically gave up on you. So don't expect them to give it back on another monthly payment plan.

Good Luck...

Answer 5

The bank wants their money, or as much as they can get.  If you make good on your back payments plus reimburse them for the costs of repossesion you have a prettty good chance. Cash only - no personal checks - You've already proven yourself a bad credit risk.  Otherwise, the bank will have to sell it at auctin and it may not sell for what they have invested in it.

Answer 6

I would think they are the best people to be asking this question don't you.

Answer 7

It's probably too late to get them to work with you to catch up on your payments. The only way you can get the car back now is to pay the loan off, plus recovery and late fees.