Our car was towed yesterday from a collection agency that our dealership uses.We are only 1 payment behind.I called the collection agency that repoed our car and they had no idea who towed it but it was on the list for repo.The finance comp. we make our payments through did not have any knowledge about this situation and why it was to be repoed.My question is,how far behind do you have to be in your car payments before they can repo it and also are they suppose to notify you?

Hello athen:

It really depends on the wording of your contract, but in general, you only have to be behind ONE day for them to legally take the car.

And no, they don't have to notify you. If they did, how many people would simply hide their cars? Nahhh. Banks ain't your friend.

excon

Yep excon has it, while of course it depends on your contract, on many if you are one day late they can come and get it.

And as noted, no they will not tell you, if they did that most people would hide the car, not let them have it.

And the higher risk the loan is the faster they come get the car normally.