You may still owe after a repossession, but it depends on how much the vehicle sells for at auction compared to what you owe on it.
Continue ReadingYou may still owe after a repossession, but it depends on how much the vehicle sells for at auction compared to what you owe on it.
Continue ReadingA car repossession stays on your credit reports for up to seven years beginning the day the account was originally reported as delinquent.
Continue ReadingThe car repossession process can really take a toll on you if your credit is already suffering. Fortunately, there are options for getting a repossessed car back. Be aware though, that keeping your vehicle may not be the best option for you. But if you feel it is, your options are time sensitive – so make sure you act fast.
Continue ReadingWhen you know you’ll be faced with your car being repossessed, you have two options: voluntary or involuntary repossession. Both result in your car being taken back, but the choice to give up the car voluntarily is up to you.
Continue ReadingThere’s no question that having your car repossessed will put a big dent in your credit score. But what are the specific consequences once the repo process is complete?
Continue ReadingSome of the obstacles facing consumers have to do with specific requirements of bad credit auto loans, specifically related to job and income. Here, we outline the three key factors subprime auto lenders use to qualify someone—ability, stability and willingness to pay.
Continue ReadingHaving your car repossessed is a stressful situation that sometimes is impossible to avoid. But, if you know your vehicle is going to be taken, something to consider is a voluntary repossession.
Continue ReadingRepo. We’ve all heard the term, but do you know what happens if a repossession is issued for you? Customers often write us with concerns about being financed after repossession. For example, this is a comment we recently received:
Continue Readingaccording to information from Experian Automotive, consumers financing a vehicle from a high-risk lender are roughly twice as likely to have that loan end in repossession versus buyers financing with a conventional vehicle loan.
Continue ReadingIf you have credit problems and you’re having trouble making your car payments, the very worst thing you can do is wait until after repossession to do something about it.
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