More Questions

[needtobe]

How long does it usually take a company to reposs a vehicle? Mine is with NMAC. I am going to let it go and I don't want to have to buy a new tag and pay insurance another month.

How long does a foreclosure usally take when you stop making payments?

I am in Georgia if this helps.

Thanks,

[lookingforward]

With my vehicle is was five months. They sent the sheriff's department with the legal papers to repossess then. I'd advise you to call them and do a voluntary surrender which is a lot less embarrassing than having the sheriff show up at your house. And, in my experience, turn in that license plate when you drop the insurance! The fines add up fast with the DMV!

[needtobe]

So I can drop the insurance and turn the tag in while I am waiting on them to repo the car? What if I call them to come get the car and they don't come right away.

Thank you so much.

[lookingforward]

Yes, if you are not driving the car, it's crazy to pay the insurance. Drop it, and turn in the plates.
They probably will not come get it just because you call. A lot of posts on here recommend returning it to the dealer or the bank and dropping off the keys.
Do a search on "repo" and you will find quite a bit of advice.
I remember several posts where people became impatient with the dealers, and dropped off the car to have the oil changed at the dealership and never went back for it.
I think maybe a voluntary surrender doesn't show as bad as a repo when all the dust settles. I'm not sure about that though.
If you're going to drop it off somewhere, though, don't leave the license plates on it and depend on them to turn it in. After you park it, take them off and turn them in!

[needtobe]

Where would I turn in the liscense plate?
Do you mean I can take the car to the dealership where I bought it and they will turn in over to Nissan Credit?

[lookingforward]

You turn the license plate in to the DMV.
As far as returning to the dealer, do a search for that because I don't want to tell you the wrong thing. I've seen many posts about that though, and probably someone will answer you soon that has done that very thing.

I've seen several posts where they did just that, returned to the dealer and left the keys with them.

[aces67]

No, No, No! You do NOT want to drop the insurance until the bank has it in their posession. Until they pick it up you are still 100% liable so if you drop the insurance and a tree falls on it then you owe them and you have no collateral to give them.

Are you planning on filing BK? Have you spoke to your lawyer about this?

Edited to add: If you decide to leave it on with a car lot ask them if they are responsible first! My car got broken into while waiting to be serviced and the lot had signs stating that they are not responsible for ANY DAMAGE TO ANY VEHICLE LEFT THEIR FOR ANY REASON. Thankfully I had insurance to file it on.

[pookieny]

In my city, you cannot have a car on your property without license plates on them.

[teacher]

-Do not drop the insurance until the vehicle is no longer in your possession.

-If you have filed, they can't just come and repo it, they will have to go through he relief from stay motions.

-From what I have read on here, it varies by financial institution. It costs them (a couple hundred) dollars to file a relief from stay, so some don't even do it and just wait until the case is discharged to claim the vehicle.

-This is assuming you have filed.

[ela805]

I let my car go and I'm in GA. It took about 4-5 months, but NOBODY came to my door. I got up one morning to go to work and my driveway was empty. I still had stuff inside the car and had to go to a secret location (after tracking the company down) and pay $60 storage fee to get my stuff. I never got to see my car again. They handed me all my stuff (including the license plate) in a garbage bag, through a little door. It was surreal. It was my fault for still having items in a car that I KNEW were going to be taken, but hindsight is 20/20.

[tkharvey]

Voluntary repo is much more "humane" that the other....it's a horrible experience to wake up and find your car missing from the driveway. It's humiliating.... two months late....

[pookieny]

If they repo your car, how do you get the plates back?