Usually how many months a person can skip a car payment before the dealer repossess your car?

Question

Usually how many months a person can skip a car payment before the dealer repossess your car?

Answer 1

By the time your second payment is due, the bank will be calling or knocking on your door.  Don't ever wait for them, you need to call them and offer an arrangement of payments.  

Answer 2

It's not the dealer but the bank that financed you that will repossess.  And technically they own the car till you make the last payment so the day you are behind they have the right to take it.  Most banks will give you a month, maybe two but you can't skip payments and just be two month behind from that point on.  I would contact your bank and see if you can work something out.  You don't wand to be in a situation where the car will just be gone one morning.  And you can't hide from them because at some point they will consider the car stolen and the police will find you.  Seriously, the worst thing you can do is skip payments and hope for the best. Keep in contact with the bank and try to work it out.

Answer 3

The dealer doesn't repossess the car, the lender does.  The dealer gets paid by the lender when you purchased the car.  Then, you pay the lender back.

Check out the terms of the agreement in the finance paperwork you signed when you bought the car.  Technically, lenders can repossess your car 1 day after a late payment, but many will give you a 10 day grace period and it is usually stated in the agreement.

Overall, you will be lucky if you have the car 15 days after the payment was due.

Answer 4

Often depends on the lender, I've seen people go 60, even 90 days and still not have their car repo'd.  I wouldn't consider this a long-term solution, as nothing is worse then having your car which you rely on taken back from you.