Will a lender repo my car if I'm consistently 15 days late on payments?

I fell behind on my car payments after I was laid off from my job. This caused me to fall behind 15 days on my payments for the past three months. However, I'm still paying. They've contacted me about repossessing the car. Can they do that?

“If you’re only 15 days late on the payment, chances are a lender won’t repossess your vehicle. Repos are most commonly used on car loans that are 60 or more days late. In this case, they might just be using the threat of repo as a scare tactic.
That said, you need to call them as soon as possible. Tell them what happened. If you’re honest and upfront about your financial situation, they will most likely work with you on some sort of catch-up payment plan.
Even throwing a few extra bucks a month at the payment until you’re caught up will probably alleviate the situation.”
Eric Schad
Answered on Apr 27, 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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