Bridgecrest repossession process

Bridgecrest is a paying client of Pissed Consumer and utilizes its services to proactively identify and correct customer service issues. Bridgecrest is not a good company. I can't wait to get rid of this car and find a better company to finance with. Called and asked if i could put a payment on the back of my loan because of situation I'm going through and was told I couldnt. The rep didnt seem to care about my situation so i asked to speak to a manager.

The rep got frustrated and kept me on hold forever. Talked to manager and she wasnt any help as well. I'm a good paying customer and i feel just me asking for help one time. I shouldnt be treated this way. I called in about a month ago to let Bridgecrest know that I couldn't meet my scheduled payment.

I asked for assistance by having a payment rescheduled to the end of my loan. I've done this with previous lenders so I know its possible. This is causing me to get even farther behind. I have been a good customer and just need a tiny bit of extra care to keep everything current.

I was extremely happy in september when i got my first car but only months later did i become pissed. When drivetime acceptance became bridgecrest everything changed for the worst. First of all when my car wouldnt crank after having it for five months i had to get my insurance company to tow it to a "drivetime" mechanic.

Secondly, i received the run around about getting the parts fix because they said it "wasn't covered by the warrenty" when in fact it was their error because the car was not inspected before they sold it to me.

DriveTime Repossession Policy & Process Explained

Now here's the catch, a wire was ran from the right side of the engine to the left side battery port. Now from my understanding there was suppose to be a tube in that "illegal" wire spot. After hours of arguing, and stating to seek legal action i receive a call a day later saying "Ms.

bridgecrest repossession process

Williams I apologize on the behalf of my company of this incident but we will pay for the error". That was fine because the car would finally be fixed after two days of me stranded without a way to work. That same week i lost my job because i couldnt make it to work, due to fact of it taking four days to receive a part for my car.

So do the math two plus for is six, i work five days a week so i lost a week of pay, then my job. So i received a call two weeks later from a lady that worked at bridgecrest who was extremely rude might i add. After the back and forth, i finally got a chane to explain to her my job issue and telling her i would be making sixty percent of my car payment the following week until i catch up, she gave me sas stating that basically was not going to work so i hung up on her.

A week later i got another call, i explained to that agent the same thing and she stated to apply for an loan extension but i can only apply the beginning of the month. So the end of july i called the office to get more info on the program and i talked to another female agent who stated i have to be 31 days passed due in order to apply.

I ask was she sure and she stated yes. The last of week of august i called in again to make a payment and the male agent told me in order to do the extension i should not pay the payment because it will reset the past due and to call to the office monday to apply and i should get it. Since monday was a holiday i call today, tuesday septemeber 6. I spoke with one agent who told me i didnt qualify and he hung up on me without explaining,called back got transfered twice to a "manager" that basically told me i have to make two full payments before i can apply.

While i was trying to explain the situation to him he basically overtalked me to the point i calculate distance between zip codes excel fustrated and told him i dont want to deal with this anymore, all while another bridgecrest agent was calling my phone and leaving a voicemail.I am currently 3days late on my first payment due to some personal issues.

I have the money now to make the payment but Drivetime is threatening to repo the car already and won't accept my payment over the phone.

Can they do that so soon? Drivetime makes there money by saling cars and getting the large down payment then repoing the car and keeping the money down. I am not a big fan of them or j. They serve a purpose but they can hurt people trying to build there credit.

They can repo the car as soon as you are late 1 day 3 days 1 hour. Don't be late. Make the payment as quick as you can. I went to drive time because I was going through a bad divorce the car I had I couldn't afford the payment. Drive time told me that they would make my payments cheaper that didn't happen and they repossess my car after 3 days Don't trust them. I buy a lot of cars for drivetime and know their policies.

The contract you signed probably states you are in default already. If they already sent the paperwork in to the repo company the car will be repo'd. If you make the payment online it will take almost a week to be processed and the repo company informed.

If that happens you will have to pay the repo charges and or storage to get the car back. If you make the payment in cash in person it will be processed quicker. According to all contracts, once you are in default, no matter what the reason is, it is the bank or lender option on what to do. They can demand full payment, catch up on all back payments and fees. They do not have to let you get your car back for only what you owe in back payments, they can and will decide what to do.

And if you were late on your first payment, again no matter what the reason is, it definitely didn't make a good impression. And in all reality, it is to their best interest to repo the car, because with that downpayment, they already made their money and they can resell the car to someone else and be way ahead of the game. The car right now after your downpayment is all pure profit. Understand that Drivetime exists to sell vehicles to people who otherwise couldn't buy a car.

They are not going to screw around with you. I'm sure somewhere in the documentation you were given it states what they consider a late payment and their collection procedure. Get that payment in now.

What Are Your Options When Car Payments Become A Burden?

You're late a few days and they're trying to repo? Do you remember what the terms were for late payments or did you not ask? That was a big down payment and if you've never been late before, they may relieve you of any late fees.

I have no idea who this Drivetime is, but you are techinically in default when you are ONE second late on a payment. Okay, more like one day and the payment is not in the overnight drop box, but you now get the idea. When they sell you a car their ultimate goal is to repo the car as quickly as possible. They then resell the car for the same price to the next victim.

Even after the car is resold you are still liable for the reminder of the balance you agreed to pay when you bought the car. It'll be the best thing. CarMax is a more reputable company who also gives credit to people with low credit scores.Good afternoon all. As a long time lurker the myFICO community I have decided to join and work on cleaning up credit with hard decisions to make. One of my biggest decisions is a loan for a Toyota Camry that is worth way less than the loan which stands at almost 18k.

Early on I missed a payment by one day about two months into the loan and the car was repossesed. I payed plenty to get it back the next day. It has been a uphill battle ever since. Right now I'm 90 days behind according to the bureaus resulting in a credit score. I'm contemplating a voluntary repo but would need to secure a vehicle from a buy here pay here to continue working as I need a car for work. I don't know what to do so I'm asking for help. Any and all comments would be appreciated.

Thanks in advance. If I'm understanding you correctly, I want to let you know that an insurance company won't total a vehicle simply because you owe more than it's worth.

If that were an option they'd be bankrupt as a LARGE amount of the motoring public owes more than their vehicle is worth. A vehicle can be totaled when it has been involved in an accident, theft, or acts of god that would cause an insurance company to have to act upon whatever policy you may have them them.

Again, simply being upside down on a loan is not grounds for totaling a vehicle. Thanks for your reply Loquat. I read somewhere that if your repairs cost more than the car the insurance company would total it out but I guess that only pertains to accidents and acts of God. In any event I've been working with Bridge Crest but the phone calls are a bit much when I know what payments are due.

Please I need help, Drivetime trying to repo my car?

I tried to refinance the car but because of late payments and it's underwater I can't get a new loan. I mainly hear that it being under water is the main reason.

bridgecrest repossession process

I don't have a BK but I can't help but wonder if that might help my situation. I'm looking for advice on the lesser of two evils which is voluntary repo or BK on my credit. Either way its a hit but I feel trapped right now. Bridgewater is a monster. While I do not know your location, there are a lot of companies begging for your service however with your score being such, you need to take small steps to get higher scores. Bankruptcy should only be used in detrimental circumstances such as medical losses, home foreclosures, job loss etc.

Start working on getting that score up if need be by secured methods or use the extra money to pay what you already have. Use your money wisely. Get a plan and stop giving Bridgecrest all of your money, they are taking advantage. Make a decision on this useable. The crash thing is I did not realize it until I went to get another car and they pulled Edmunds on it. Bridgecrest did not want their own car.

Moral of story "you are not alone". I think you should look into SpringboardAuto. My payments are now They paid off Bridgecrest with 2 days after signing the paperwork.

Check their website out Its a soft pull on your credit report and you are able to adjust your monthly payment once you are pre-approved. Yes, only if repairs from an accident cost more than the car is worth with collision insurance, or comprehensive insurance coverage for things like a tree falling on it.

And you need to realize the insurance company will only pay you what the car is worth as in book valuenot what you owe on it.Joining our newsletter means that you're super smart and you want to be smarter. But you should listen when they say not to rely on this website for your financial decisions.

When life throws a curve ball, sometimes people are unable to make car payments as planned. There seems to be no option but to default on your loan and miss payments.

This is a bad scenario for anyone. However, defaulting on a loan or even missing a few payments is disastrous for your credit score and may limit future credit approval. It is important to consider alternative ways to handle your car finances besides missing payments and waiting for repossession. If you are struggling to make car payments, you aren't alone.

Many people find themselves over their heads in debt and behind in their monthly payments due to reduced income, unexpected expenses or emergencies.

The good news is that there is often some flexibility built into your agreement for situations like this. It can vary drastically by lender, so take the advice below and give your auto loan lender a call, explain you situation and see what options are available for you.

Here are a few of the ways you can be proactive about car payments and avoid defaulting on a car loan. This is one of the best options for those with unexpectedly tight finances.

Discuss with your lender or dealership what options are available for modifying the current agreement on the car. Although, it may be possible for loan payments to be lowered by extending the life of the loan not all dealerships or lenders will offer this as an option.

The amount paid for the lease is dependent in part on how many miles are put on the car.

bridgecrest repossession process

By agreeing to drive less with lenders that will allow it, the payments will often go down. Once someone has gotten behind on payments, they may be concerned that the car will be repossessed.

Avoid this consequence by catching up on late payments. As soon as possible, pay back the delinquent payments as well as all late fees. While it should be discussed with the creditor, if late payments are accepted, the creditor may have waived his right to repossession. However, should your car be repossessed, it is possible to get it back by reinstating the loan, which requires paying all past due payments and fees at once to make the loan current.

Avoid the repo guy - even if it is Mater. Image via Walt Disney Pictures, all rights reserved. It is important that a borrower not try to hide financial changes from the creditor. If you have lost your job or had other major financial obligations come into play, you should go immediately to the creditor to explain the change in your finances. This will not only allow the lender to be aware that there may be missed payments, but will invite him to offer solutions to the problem, so as to prevent missed payments from occurring.

In short, if you find yourself behind on payments or suspect you soon will be, talk to a trusted financial advisor for greater clarity on what can done to avoid defaulting. The ramifications of a defaulted loan will linger for years afterwards. Handling this difficult financial situation properly can keep the present from affecting the future unnecessarily. Interested in more finance and frugality tips? Subscribe to our newsletter, it's free:.The specter of the repo man haunts many Americans who have fallen behind in their car payments.

Some even resort to sleeping in their cars to make sure they don't get towed in the middle of the night. The best way to avoid the repo man is to stop the repossession process before it starts. Repossessions are costly and can stay on your credit report for seven years.

Repossession agents can take away your car in a matter of minutes. The best defense is to get in touch with your lender and work out a payment plan. But if it's too late for that, you should know your rights in a repossession. These vary from state to state. In some states, for example, repossessions aren't permitted at all.

For more information on repossession, read the Federal Trade Commission's consumer guide to vehicle repossessions. In most states, a default is all it takes for repossession to begin.

After default, "the laws of most states permit the creditor to repossess your car at any time, without notice, and to come onto your property to do so," according to the Federal Trade Commission. Realistically, though, how long does it take before the repo man has you in his sights? That depends on your payment history with the lender. If you've never missed a payment, you might not be subject to repossession immediately. But if you've been late before, your number may come up right away. And know that if you contact the lender and are granted a day extension on your payment, that means 30 days from when the payment was due which might have been two weeks ago.

It's not from the day the extension was granted. Lenders usually outsource car repossession to professionals.

Repo men or, more properly, repossession agents know all the ins and outs of getting cars back. If the borrower isn't at his last known address, they'll use "skip tracing" to find a car owner who's in default. This involves using online databases to find evasive debtors. Occasionally, they use some old-fashioned detective work in the form of door knocking or phone calling. They might even use informants — an estranged spouse looking to get even, for example — who tell repo men where to find a car.

Once the repo man locates a car, he will wait until it is left unattended and use a tow truck to repossess it. In some cases, repo men have specially modified tow trucks that can yank a car away in a minute or two. From there, the car goes to an impound lot, where it will typically be held for 30 days to give the owner a chance to "make the loan whole" by bringing all back payments up to date including the repossession fee or by paying off the loan balance in full.

If the owner doesn't settle the account in time, the lender sells the car at auction, deducting the selling price and fees from the amount owed. The fees include the cost of the repossession, auction, interest and the amount owed on the loan.Need a quick answer? Before you call, read answers to commonly asked questions! There are lots of ways to get in contact with Bridgecrest. Give us a ring, email or chat today.

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The site also provides links to consumer education materials.First Quarter Finance. But how long will it take DriveTime to repo after defaulting on the loan? Usually, at least 60 days. For more details on the DriveTime repossession process, see below. DriveTime only sells cars and initiates the loan application process, customer service told us.

While policies vary depending on the terms of your auto loan contract and the laws in your state. Bridgecrest will typically repossess your DriveTime vehicle 60 days after defaulting on the loan, the representative said.

Legally speaking, in most states, your car can be repossessed immediately after you default on the loan. To prevent missing a payment, you can enroll in autopay — a service offered by Bridgecrest and other lenders free of charge. Just be sure you have sufficient funds each month. You may also want to find out if you can trade-in your DriveTime car for one with perhaps lower payments.

If your car has been repossessed, you may or may not be able to get your vehicle back. Depending on the terms outlined in your contract, your location, and which lender you are working with, you may be able to get your car back through one of the following options:.

Suggested article: How to Apply for a Free Car. My car was reposessed by Bridgecrest and I make enough money to catch up on my loan. I need help to get my car back even though my credit is bad now. Hello, Calvin! After the car is repossessed, you typically have three options: 1 contact the lender to see if you can pay the full overdue amount and reinstate the loan; 2 redeem the vehicle by paying off the total amount left on your loan, or 3 purchase the car back at auction.

Unfortunately, all three of these options can be expensive. If the lender is unwilling to work with you and you are unable to buy back the car, you may need to find alternative transportation. It would be best for you to contact Bridgecrest directly to discuss your options.

We have updated our article to include this information. What to Do After Repossession If your car has been repossessed, you may or may not be able to get your vehicle back. Depending on the terms outlined in your contract, your location, and which lender you are working with, you may be able to get your car back through one of the following options: Redeem the vehicle by paying off the entirety of your loan balance, plus any fees associated with the repossession like late fees, storage, and towing fees Contacting your lender to see if it will reinstate your loan; note that the availability of this service will vary depending on the terms of your loan and that you will need to make up all past due payments and fees Repurchasing your vehicle at auction Suggested article: How to Apply for a Free Car.

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