What are the steps to a car repo?  How long is is on your credit and is there an easy way to go about it?
603805
Account goes delinquent and the lender decides that the borrower will not pay, so they engage a recovery agent to repossess their collateral.  The timeframes for notice are state specific, but usually 20 days notice is required.  Once the lender has repossessed the collateral they will allow you to retrieve your personal possessions and give you written notice of the amount required to retire the debt.  You MAY be able to bring the account current, pay the recovery and storage expenses and get the car back, but it's up to the lender...they can require you to pay the entire balance.  After the required time period, often as little as 10 days, the lender will sell the collateral, usually at a dealer auction.  After the sale amount is applied to your balance, the lender will notify you in writing about any deficiency balance owed.  There is almost ALWAYS a deficiency balance.  You will have time to pay the balance in full or make payment arrangements.  If you don't pay or make arrangements, the lender may file a judgment against you.  Depending on your state of residence, they may try to garnish your wages.  At any rate the repossession will be on your credit report for 7 years.
182778
In my experiance the dealerships have always had the best deals for financing. It all depends on your past credit, but more on how much you make and what other bills you have too. If your total of monthly bills goes over a certain percent then you have to many and the banks wont want to give you the loan. I wouldnt deal with online banks, just for the fact that you can never see the people or walk into the place. It will probably result in a lot of phone calls and you'll be lucky to get a real person on the line. When I went to buy my last car. I checked out a Chevy dealer on a car for 13 grand, and they wouldnt finance me. My local bank would give me 12 grand at the most. So I went to the Honda Dealer and they hooked me up with a $17,000 Accord. I didnt even need a down payment and the job I had at that time paid me like $700 a month. I got lucky I guess. My car payment is $320, I do have a much better paying job now of course. If I were you, I would try a local place in Texas or maybe a few different banks. Dealerships should be your best bet. Cars from Iowa are more likely to get rust, because we salt the roads heavily this time of year. I would love to get ahold of a car from Texas. Hope this helped.
196244
Try Capitol One Credit. They help people with not so perfect credit. You can even apply online. Try autotrader.com
577318
get in debt and pay the bill(s) on time. The Kia dealership helped me get started again but it required a larger down payment for a new car - then I made payments on (or before due date) did this until car was paid off. It took me 6 months of making payments on time (establishing good paying history) before I could get a real credit card (not one of those you put money in the account) - my limit was 2,500.00 but at least it was a start and I was on my way after that - too many years of bad credit --- I learned my lesson!
98251
It really depends on you...\n\nIf you tend to want a new car ever 2-3 years, it may be better for you to lease.  This way, you can pretty much turn the keys back into the dealership and find a new lease.  However, if you put a lot of miles on a vehicle, this might not be the best for you either, as there are usually penalties if you exceed a certain mileage that is spelled out in your contract.\n\nIf you plan on keeping a car for a long time, it is best to buy.  The car will become your asset, as eventually you will have it paid off and it will be yours.  Most new car loans are for 5 years, and sometimes longer, so you get the most benefit out of a purchase if you plan on keeping it for the length of your loan.  This way at the end you either have a vehicle that you can trade for a credit toward a new car...or you simply have a car that is yours free and clear.  \n\nThere is NOTHING better than having no car payment!  However, that means you sacrafice having the newest and latest as your car ages.
486678
SINCE THIS WAS 1ST PARTY COLLECTIONS THERE IS PRETTY MUCH NOTHING YOU CAN DO ABOUT IT.  THE FDCPA ONLY COVERS 3RD PARTY COLLECTIONS, AND THIS WOULD BE 1ST PARTY.\n\nTHERE ARE REALLY NO LAWS COVERING 1ST PARTY COLLECTIONS, SO, YOU ARE OUT OF LUCK.\n\nWHY WOULD THEY HAVE ASKED FOR THE TITLE TO THE CAR, THEY SHOULD ALREADY HAVE IT IF THEY WERE THE LIEN HOLDER ON THE CAR.  WAS IT A SIGNATURE LOAN OR DID YOU USE THE CAR AS COLLATERAL ON THE LOAN.  YOU SHOULD NOT HAVE HAD THE TITLE.  YOU DO REALIZE THAT EVEN THOUGH YOU GAVE THE CAR BACK IT IS STILL GOING TO SHOW AS A "VOLUNTARY REPOSSESSION" ON YOUR CREDIT.\n\nGOD LUCK!
236525
First u need a credit report.  and it in there with ith the few pages. IT should be in the first second page of the report u can get one at www.freecreditreport.com good luck
887538
Hi there. Generally speaking your FICO score is between 300-850 with 620 being considered good enough to get a lower interest rate. Different sources score somewhat differently. When buying a car do not settle for the sticker price. Try to get 1-2 thousand knocked off. If at all possible, try to finance for no more than 2 years. This is difficult for most people. By doing so you will save thousands in interest on the loan. Do not tell the dealer how much money you have as a down payment initially. Mention that there is another car at another dealership that has offered you a better deal. (Sometimes it's just a game of BS) and I don't know why. It's just a matter of how high a profit the dealer makes.Don't be discouraged. If they won't budge, go somewhere else. Try to dress nice. It seems to make a difference on how you are treated. Good luck and never let them pressure you into any deal you are not comfortable with.
1059603
I have answered this question in a 5 part series. There are a few items that can be done to build credit. Here are some quick ideas:\n\nThe fastest way is to have a family member or friend put you on a credit card of theirs as an authorized user. This allows the history of that account to report to your credit as well, but you never are in debt. (Just be careful that the account you are added to is a good one!)\n\nHowever, this is not a long term solution for good credit... try these for solid established credit over the long haul....\n\nOpen a Credit Union account and get them to provide a secured loan against your savings. If you have bad credit, most traditional and national banks will not give you a loan. They usually want good credit for that.\n\nGet a secured credit card and only use it for gas purchases, once a month and pay it off each month. No debt, but always paid on time... does wonders!\n\nBuying a car can help, but you will have a very high rate with limited or no credit.\n\n\nCheck out the resources below for all the details and more ideas.
286619
I had  a repo several years ago and I even had two checkings and a savings account.They auctioned  off  the vehicle and go less than what I owed.I told them to kiss my *** and they did I,I never heard from them again !!
717816
look for the car adds that say, "bad credit, no credit, no problem" or something like that. I don't know where you are, but google Auto Solutions.
1178939
The score driven loans are set up evaluate your past credit history against your liklihood of repaying loans in the future. If you have had late payments in the past that shows how you are likely to pay in the future. If you have collections the lender will fear their loan will have to go to collections and this reduces the profitability of their institution. Start with a secured line of credit and make sure you pay on time. Getting a co signer may help. \nMake a specific repayment program but stay away from credit counseling places. Negotiate terms with your existing creditors yourself. Make sure the terms are somehting you can definately stick to. Then stick to it. Develop 3 open active trade lines ( credit accounts) and make sure to pay them on time. One could be a car loan,another a credit card and a third could be a department store credit card. Keep the balance at or below 30% of available credit limit. MAKESURE YOU DO NOT HAVE ANY LATE PAYMENTS, ESPECIALLY 30 DAYS OR MORE LATE AND THAT NOTHING GOES TO COLLECTIONS.  Stick with this and you should be able to get a loan on your own in a year or two without a co-signer. Once you get better credit keep it up by making sure that nmot only you send the checks out for payment but that they are received, and credited to the account in timely fashion. Just sending the check does not mean ther payment was made, recieved or credited properly. The burden of proof is on the consumer. Paying over the phone can be a pretty easy way to save postage and get confirmation numbers too showing the payment was made by yourself. Good credit takes work but is it worth it when you look at the differences in interest rates, loan programs and credit opporttunities you get by earning good credit. Good Luck and print this out for future reference,,, be patient,,, makew timely payments and follow these instructions and soon enough you will look back and be happy you followed instructions. :)   Zilla
915959
I'm with fr_chuck, you can save the money (do not pay), and let it hurt your credit a bit. Otherwise you pay the price for a good credit rating and she keeps the car as a bonus. I am so sorry there are such users, liars and cheats in the world.
127772
Yes you can!!!  I am a finance director. Call and speak to the SPECIAL FINANCE DIRECTOR at your local Dealership. DO NOT go to a buy here pay here lot they normally only report to one buerau if any at all.  A dealership will get you credit with all three credit bueraus.  E-mail me if you have any questions I can put you intouch with who ever you need.
452699
www.carfax.com  It costs a little but but its not bad and i used it buying my last car ... the report you get is amazing.
213156
You can go possibly up to four years on a used car.  New cars are five years, with the fancier ones being 6-8 years.\n\nI don't recommend borrowing that long for anything other than a house.  It depends on make/model/cost of the car and the dealership/bank/your credit rating.
1144752
You get a black mark on your credit record, and to get the car back you have to pay the bank all the back payments, plus interest and a repo fee, and you have to pay the repo company for the towing and storage.