ANSWERS: 4
  • After the auctioning of the vehicle you should recieve the amount due notice within 30 days.
  • If they know what they are doing, you'll be sued within 90 days of the repo. Try and sell the car yourself and refinance the note. If you sell the car yourself, you may get more for it than you think.
  • Have you tried to sell it or trade it in for a much cheaper one? I know the balance will carry over to the new loan, but if you get a really cheap car, it might not be too much. Just a thought.
  • Why don't you call them and discuss the options with them. They would prefer to hear from you than be broadsided. The ideas others have given you are good, like selling the car and financing the difference or buying a less expensive car. It is in the bank's best interest, however, to try and help you restructure and pay off you obligation to them and it is worth a try. Do it in person if possible.

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