Once your car goes out for repossession how long does it take for the repo man to come and get it?
- keerokLv 75 months ago
Anytime now. .
- Anonymous5 months ago
Could be days, could be months. There's no telling.
You should do everything in your power to avoid it because it won't get you out of debt. There's a fee for the repo service and the towing. You get charged for that. Then they store the car until it is auctioned. You get charged for that too which could be weeks or months of storage fees.. When your car finally gets sold at auction the auction fee gets charged to you and if they sell it for less than you owe for it [usually the case] you'll still owe the difference. Plus there are other fees involved so in the end you will still end up owing thousands which must be paid immediately. Unless you can negotiate payments they file a lawsuit against you and the court will garnish your wages. In the mean time your credit will be wrecked for 5-7 years and you'll have a collection agency after you for up to 10 years if you don't repay all those charges and the balance owed on the car.
Sounds great doesn't it? Don't let it happen. Talk to the lender ASAP and figure something out.
- David B.Lv 75 months ago
There is no set time frame. It all depends on the company the lender uses and how busy they are. Usually, when a car is repossessed you can still retrieve it by catching up on your payments. But this amount of time depends on the lender. If you are able to do that then you need to call them and notify them. The worst thing you can do is not communicate with your lender. That pretty much leaves the with their only option, to repossess the car.