How Many Car Payments Can You Miss Before Repo?

The length of time it takes to repossess your car will vary based on your loan arrangement, any applicable state regulations, the value of the vehicle, and other factors.

According to Gelinas, some automobiles are seized soon after default while others take place months or years later, frequently out of the blue.

Your car may be repossessed in some areas as soon as you've missed one payment. While some states mandate that lenders provide you notice before to repossession and an opportunity to make payments, in others you could not receive any notice at all.

If a loan is more than 90 days overdue, a lender would often give up trying to collect it, according to Sullivan. The longer you wait, the more difficult it becomes to bargain with the lender, especially in an environment where loan defaults are rising and vehicle values are declining.

Gelinas claims that his company has recently observed an increase in vehicle collection activities as a result of rising automotive values. In addition to the fact that payments have grown expensive, he adds, "lenders perceive these automobiles as a valuable asset worth chasing more aggressively," which has led to an increase in repossessions.
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