PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Will a lender repo my car if I'm consistently 15 days late on payments?
I got laid off from my job and fell behind on my car payments. I’m still paying, I’m just consistently 15 days behind all my payments for the last three months. The lender has contacted me about repossessing the car—can they do that?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
If you're only 15 days late on your
auto loan
payments, the lender is unlikely to repossess your vehicle. Repossession
is usually reserved for vehicles with outstanding payments of 60 days or more.The best thing you can do is reopen the line of communication:
- Tell your lender why you fell behind.
- Reaffirm your commitment to repaying your loan.
Most lenders would prefer to work out a catch-up payment plan instead of referring you to a collections agency.
Pro tip: Once you have caught up with your payments, staying on top of them is a given. However, you should also inform your lender if you face any new financial difficulties. By giving adequate forewarning, you'll be able to enjoy both flexibility and a smooth financing relationship.
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
