Car Repo

[floored4door]

I have a friend that is about 90 days out on his car. How soon is he going to have to worry about it getting repo'd? Any other advice other than pay up?

[jackmode9316]

Keep that bitch locked up indoors and strip everything off right before they take it.

[HONDA GHANDI]

He will end up paying for it either way. Its better to pay up, or surrender it instead of stripping it and letting them come get it. If they get it, (they will eventually) they will just fuck his credit even harder if it has damage.

[floored4door]

thanks tobi... anyone else? that is what I was thinking. Easiest to surrender.

[Terry]

Why doesn't he just pay?

[hatchbackgirl]

I agree, he just needs to give the car back... since he's already 90 days late I doubt the bank will be willing to work with him to let him keep the car.

[vince]

I work close to the repo business. Tell him to make whatever payment he can. From what i hear from some of the agents i work with is they dont like repo'ing cars that the borrower has made a recent payment. Another route is claim BK and legally they cant take his car. Whats his name i wonder if its a car loan thats with my company?

[chrisbarnett01]

I work close to the repo business. Tell him to make whatever payment he can. From what i hear from some of the agents i work with is they dont like repo'ing cars that the borrower has made a recent payment. Another route is claim BK and legally they cant take his car. Whats his name i wonder if its a car loan thats with my company?

I believe they can still take it since the bankruptcy laws changed. I don't know I didn't pay that much attention, but I know they changed in a bad way if you're a debtor.

And I agree, let them have the car or pay for it. Some lenders will require you to pay in full, so check with them to see before you make a small payment.

If you can't afford the car, keeping it will cause you problems. And keep in mind that if you strip it, they will still sell it and you will still owe the difference between what you owe and what they sold it for. Stripped cars don't sell for much, so even if you sell the parts you'll come out behind.

[M@]

Back in the day I went about 3 months and they were knocking at the door pretty heavy. This was through Colorado United Credit Union. Just be sure he doesn't avoid them and keeps them updated on his situation and intentions. They appreciate that much more than avoiding them and bullshitting them.

[BlueFang08]

filing bankruptcy isnt a trival task and that shit fucks up your credit for 7 years. A car is not worth that yeah not paying is gonna fuck your shit up but not nearly as bad as bankruptcy. I say turn it in and find a cheap ass beater

[M@]

Or best bet, sell the car, pay off the loan, and buy a cheap beater. Selling it and paying off the loan will help his credit more than giving up possession of the vehicle.

[BlueFang08]

Or best bet, sell the car, pay off the loan, and buy a cheap beater. Selling it and paying off the loan will help his credit more than giving up possession of the vehicle.

the biggest question with that is does he owe more than the car is worth. Cause thats not a bad idea.

[M@]

Good point.

[forum]

If he's 90 days late and they haven't taken it already he's lucky. I know a few of the banks are a lot worse than that. He really should just turn it over, that will save him a lot of money. He wont have to pay for the repo company hunting it down, cutting keys etc. That's all stuff they tack onto what you owe once they do sell it.

If he can, sell it himself as he will get more for it than the bank will selling it wholesale, but if he owes a lot more than its worth that would be tough.

[xxxd-manxxx]

i had my car repo'd beore. just got home from work at like 6am and i woke up around ten or so and it was gone. costed me about 500 bucks to get it back the next day or so, so it never went on my record!

[floored4door]

Thanks for the advice everyone... ill let him know.