Overhaulin'

Is a car title loan treated like a reg. auto loan? Same procedure on repo as finance company ; 3 months??

Public Comments

1. No car finance company has to wait 3 months to repo your car - they can do it after the first month, after they send you notice. Trust me, it's happened to me.
2. Depends on the guidelines of the lender, some wait 90-days and some only wait until you miss the first payment. It should be explained in your terms and conditions.
3. If your payment is due today at 6:00 PM and at 6:01 PM they do not have it, they can send out an order of reposession on it. Will they do it? Yes, I have seen it done. Your best bet is to keep in contact with them, let them know whats going on. If you ignore the letters, the calls, the next one to come calling is going to be the repo company.