Repossession Stories and Questions



  • oregonboyoregonboy Member Posts: 1,650
    In these extraordinary economic times, some lenders have shown flexibility in dealing with customers who contact them and attempt to work out alternative payment plans.

    He is understandably unhappy because the person at Honda that he talked with told him it could be worked out, but then his car was repossessed without notice. :(
  • delthekingdeltheking Member Posts: 1,152
    Yes, I do agree on that ,but I think there is more to the story here. Hope the OP responds back with more details. Then we can help him out or give him further options.
  • lemkolemko Philadelphia, PAMember Posts: 15,261
    Could you have borrowed an amount equivalent to the last 5 month's payments and paid off the car? At least this way, Honda Finance could not have repo'd your ride. Paying off the new loan may have been a problem but would've bought you some time. If you were only five months away from paying off the loan, I'd have given you a chance or worked out a deal, unlike AHF. Somebody who was a deadbeat would start missing payments immediately after buying the car, not somebody who almost had it paid off.
  • lemkolemko Philadelphia, PAMember Posts: 15,261
    ...if he can get current with his payments, he can have his car back. What other fees would he have to contend with a repo? Would the repo be expunged from his credit report if he becomes current and/or pays the car off?
  • Kirstie_HKirstie_H EdmundsAdministrator Posts: 11,126
    Pretty harsh, del. I've known others in a similar situation, and lenders have been willing to work with them as long as they stay in contact and are making attempts to get current on payments. No, the financial situation isn't the lender's fault or problem, but if they agreed to take the catch-up payment deal, it's just not very nice to repo the car without further discussion.


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  • fezofezo Manahawkin, NJMember Posts: 10,384
    Yes, staying in contact and working with the lender will do wonders. Several years back I had a medical situation that backed things up only because I didn't feel well enough to attack the bills. As soon as the Honda payment was missing they called. At that point I asked if they could just skip that one month and extend the loan out one month and they'd get everything. They agreed right away and the rest is history.

    That said, if they are going to repossess the thing it's some third party that will come in the dead of night because they get fewer people fighting with the tow guy. Happened to the daughter of a friend.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • delthekingdeltheking Member Posts: 1,152
    Kirstie, Did not mean it to be harsh. I had said in a follow up post that I think there is more to this story. We are not getting the full picture here. Unlikely for a company like Honda to agree and say it is documented and then repo a car. Dont know if there was some mis-communication or something.

    If AHF agreed to the deal,then I would have asked them to send me a written copy of the documented proof that both parties agreed to . If AHF has documented proof of the agreed deal and they still repoed the car,time to contact a lawyer.
  • fezofezo Manahawkin, NJMember Posts: 10,384
    My experience with AHF is that they do document and send written confirmation of what was agreed to on the phone.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • delthekingdeltheking Member Posts: 1,152
    edited April 2010
    So then , I guess we are not getting the full picture here !!
  • kyfdxkyfdx Moderator Posts: 210,409
    .. if I'm training call center agents, and they look on your file and it shows that a repo has already been scheduled.... then, they better not let you know that!

    Assuming you are past the point of no return, then tipping off the repo-ee that you are on the way, just wouldn't be too bright. That might have been the case here. It was already too late, and they had to keep mum about it.

    just throwing that out there..

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  • bolivarbolivar Member Posts: 2,316
    I'm not sure, the memory is going fast, but I think dhamlett has been in here in the past with his credit problems.

    I'm not going to jump on him while he is down, but if I'm right in my rememberances, he seems to have long-term ongoing financial problems.
  • oregonboyoregonboy Member Posts: 1,650
    Maybe it's just me, but I don't think that that kind of speculation is helpful or appropriate. :lemon:
  • tidestertidester Member Posts: 10,059
    but if I'm right in my rememberances

    I don't believe you are but the right course of action would be to contact a host by email rather than going off topic in the Forums.

    tidester, host
    SUVs and Smart Shopper
  • Kirstie_HKirstie_H EdmundsAdministrator Posts: 11,126
    That sounds logical. However, I think it'd be nicer if they'd somehow put him off instead of making what seemed to be a deal. "Let me discuss that with my manager and we'll have someone call you back." That way, the person doesn't hang up with a feeling that anything's been resolved.


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  • lemkolemko Philadelphia, PAMember Posts: 15,261
    ...on a car note, I'd go out of my way to find the money to pay it off! It's like you flushed anywhere from 31 to 55 months of payments down the toilet only to have the finance company repo it after all that effort. I forget what kind of Honda he said he had, but I'm sure the car had a lot more than five years lifespan. He could've at least not worried about a car payment for a while when he got the rest of his financial house in order.

    As for swearing off Honda, I doubt very much he'd be dealing with AHF in the near future. He could still buy a Honda, but he'd either have to pay cash for it or go the sleazy subprime route with their usurious rates. Sad how unemployment can upend one's life!
  • bolivarbolivar Member Posts: 2,316
    Clicking on his member name, I see he became a member the same day as he posted, and has one post. So, he obviously is not the person I was 'remembering'.
  • fezofezo Manahawkin, NJMember Posts: 10,384
    Looks like he was here to vent. Looks like a one and done post.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • blueiedgodblueiedgod Member Posts: 2,798
    I hate American Honda Financial:
    My car will be paid for in 5 months, September 2010. I've been out of work twice in the past 18 months, for a 4 month total span. I've explained to AHF that I've been out of work and that I would pay them what I owed but to please be patient with me. The last conversation took place on 4/16 and I told them I would make payment for the 2 months I was behind on the 4/30, they said okay and it is documented. I'm living week to week, like many Americans, and I need a car to work. On 4/21, they repossessed my car.

    I will never buy another Honda, my 3 sons will never buy a Honda, and if I have any influence before I die, my grandchildren will never buy a Honda.

    There has got to be more to this story.

    I was laid off in 2008, I called American Honda Finance right away and explained my situation. I was 3 years into a 5 year payment plan. They agreed to defer payments, as long as I paid the interest every month. the interest on the loan was like $20-30/month, it was financed ar 2.9% APR.

    Luckily, I found a good job within 2 months and was back on track.

    I can tell you from personal experience that AHFC will let you skip payments.

    I would guess that OP missed payments without contacting Honda, and then, after receiving threatening letter, contacted, but it was too late. Repo was probably scheduled already.
  • fezofezo Manahawkin, NJMember Posts: 10,384
    Yeah, i had an experience with that sort of thing with American Honda Finance. I'd been sick and just fell behind a month. I asked them to extend the loan out a month instead of em trying to play catch up. They agreed right away. Didn't even have to kick me up to a supervisor.

    The last thing they want to do is repossess the car.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • isellhondasisellhondas Issaquah WashingtonMember Posts: 20,338
    " The last thing they want to do is repossess the car"

    Bingo! That is a last resort and an expensive thing for them to do.

    I bit my tongue (I know, hard to believe) but I smelled something fishy. I have heard of several instances where Honda will make special arrangements ESPECIALLY if the person has a good history with them.

    More to this story for sure...
  • lemkolemko Philadelphia, PAMember Posts: 15,261
  • hondauser2hondauser2 Member Posts: 1
    I hate to sit here and disagree with all of you that think this person is wrong! BUT! I have just recently had the same thing happen to me!!!! They say everything is ok over the phone and the next day it was just GONE!!!! I called the police and they told me! Then I worked with Honda and did everything they said to do just for them to come back and tell me today that they still will NOT give me my car back unless I pay it off in full! I have been paying them for 3 years... 2 of which I didn't have a job. Now they will not continue to finance me!!! They are terrible! Mean people!
  • lemkolemko Philadelphia, PAMember Posts: 15,261
    For how long did you finance the car - 48 mos, 60 mos, or 72 mos? If you only had a year or two left to pay off the car, that stinks.
  • Karen_SKaren_S Member Posts: 5,092
    This doesn't fit the discussion, but thought I'd give it a shot here.

    A reporter is looking to interview the victim of a tow truck scam: someone who has had their car towed illegally, has had their car held hostage due to extremely high fees, has been approached by a town truck they didn't call for help, etc. Please send your daytime contact information to [email protected] no later than Jan 6, 2011.
  • hammerr1969hammerr1969 Member Posts: 1
    I was out of work for a year and half and during that time capital one moved three payments to the end of the loan. My loan matured and they wanted every cent due at once well I had just started working and tried to work out a payment plan to no avail. They repossed the truck from the train station while I was at work for 2437.00 I redemmed the truck by paying off the balance but they put it as a charge off on my credit the same month I paid it off. is that legal
  • shepardboyshepardboy Member Posts: 1
    decided to get my repoed trk back, but before i pay the past due and repo fees do i have the chance to see if truck is in the condition it was in when repoed? its in a lot in Oklahoma city, i live in enid. do they have to keep it in side or can it stay out side in a lot. if it has severe storm damage can i just forget it and deal with them selling it and dealing with the balances later are they responsible to keep it in good condition
  • steverstever Guest Posts: 52,454
    A reporter would like to talk to a car buyer in his/her 20s who has a 72-month or longer term auto loan. If you would like to share your story, please send your daytime contact information to [email protected] no later than Tuesday, 7/16/13 at 10 a.m. PT/1 p.m. ET.
  • tabathavmtabathavm Member Posts: 2
    We are thinking of doing a voluntary repo with our van. It's finaced through Wells Fargo. We owe more than what its worth. What I want to know is what happens after that? Do they garnish his wages? Im not worried about the credit report at this point, but really want to know if they are going to take us to court and sue or have our wages garnished. Or do they give you a certain time frame to pay it back?
  • mikefm58mikefm58 Member Posts: 2,882
    In all likelihood, they could come after you for the difference but usually someone who can't pay the car loan doesn't have anything to go after. So banks don't usually do that. But if they do not come after you, I believe any difference between the outstanding loan amount and value of the car will be a "debt forgiven", and you'll then have to claim that as income on your taxes. The IRS doesn't care.
  • jprocjproc Member Posts: 135
    interesting question. I worked in the car business a few years and lots of car buyers would roll the negative equity of the trade-in into the loan on the new one.
    So I would guess that banks have lots of loans like yours and if they make no effort to collect them that could add up to lots of money.
  • tabathavmtabathavm Member Posts: 2
    Yea we have looked into that but it wouldn't lower our payments. We owe 17295 on a 2007 odyssey exl.
  • repoguyrepoguy Member Posts: 1
    Just because property has a sign saying private property doesn't make it private property. 

    If the property is not gated and locked, it's open property. If you have my my possession on your property "cause a repo order gives me temp ownership" I have every right to take that property. 

    i cannot break or damage an entry point to the property to take the collateral. 

    the matter is Civil. Police cannot get involved. If they do, they then violated my civil rights. If you create a disturbance by yelling and screaming, your property or not, you can be arrested. Civil law and rights protect a repo agent. Police officers have learned the hard way with me and states have paid me generously for it. 

    You our can try and manipulate the law to continue driving a vehicle that you call yours and don't pay for. A smart repo agent will school the officer and possibly get you ticketed or arrested and still take the vehicle. 

    For the original question. If you acted aggressively toward the repo agent "screaming, running after, etc" , he or she has the right to do what he or she needs to get away from a dangerous situation. If any damages occurred during that time on your property, your property insurance will cover that ;) 

    If the agent is uneducated in his or her job you might be able to win it in court. Repo agencies are covered for property damage. But I never lost. 

    Pay your bills. It's not your car. The title you hold is not an ownership title. They are color coded in all states. Your basically renting the car until a defined date. After that date you are mailed the ownership title as long as you paid every payment. 

    If you didn't, see you soon ;) 
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