How long until your car is repossessed if you stop making payments?

"I don't have any money for my car loan. I stopped paying last month, and I know a repossession is looming. However, I want to use the car to find a new job until it gets repossessed.

How much time do I have?"

Answer
“That’s unfortunate that you can’t make your car loan payments anymore, but at least you’re trying to do something fruitful while you still have the vehicle.
In general, you have between 30 and 90 days before the repossession process starts. After this time, repo men will start trying to find your vehicle.
The honest thing to do is to tell the lender of your ordeal to see if they’re willing to work with you. If they aren’t, remember that a forced repo and a voluntary repo do the same damage to your credit. You can certainly use the car to go job-hunting, but don’t wait so long that you get into legal trouble on top of financial trouble.”
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Eric Schad
Answered on Jun 16, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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