- Report: #1376011
Complaint Review: Capital One Auto Finance - Natiionwide
Reported By:
JoshLsCristy -
Westwego, Louisiana, USA
Submitted:
Updated:
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Author Not Confirmed
Why?
Capital One Auto Finance
Natiionwide, USA
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Capital One Auto Finance Capital One Auto Finance took my car after they told me they wasn't gonna repo my car City of Industry, CA Natiomwide
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I was behind on two payments and Capital One Auto Finance told me that they wasn't gonna repo my car when I talked to them the next day they came repo my car after they told me that they wasn't gonna take my car..
1 Updates & Rebuttals
FloridaNative
Palm Beach Gardens,Florida,
USA
The lender isn't going to tell you in advance that the repo man is on his way
#2Consumer Comment
Tue, May 30, 2017
This is the way it works: once you are behind in payments, a day or a week or a month or, as in your case, two payments, the lender is going to send out the repo man to get your vehicle. The vehicle is pledged as collateral for the loan. When you stop making payments, they are going to pick it up and then notify you of the outstanding balance + fees.
They don't notify you that the repo man is coming because then you might hide the vehicle. The phone reps don't have any idea of the time or date for pickup prior to the actual repo. Even if they did (doubtful), they have no authority to tell you.
It is your responsibility to make the payments regardless of your situation. In fact, now that it has been repossesed you still owe the money for the vehicle + all the fees and default interest that has accrued. The lender will sell the vehicle and apply the small amount received at auction toward your loan. You owe the rest. The lender can then come after you for the balance. If you don't pay, the lender can get a judgment against you. Depending on the jurisdiction in which you live, the judgment can last for 10 years or 20 years if you don't pay it, it can be renewed for another 10 to 20 years.
Best to face this issue right away so you don't have a judgment hanging over your head. Good luck.
