My Car Was Taken

[nowuwant2nome]

My Car was just Repo. I live in Ohio but the loan was thru a bank in Michigan were I once lived. I owe 2000 and am prepared to pay it off in the morning (I know stupid). My question is how much money does the bank charge in fees and how long does it take to get my car back if I pay the balance off in less than 24 hours from the repo.

[GreatGadsby]

that depends on the terms of the contract you have with the financer. it should state what fees are allowed in the event you default on the contract and the financer is forced to remedy the situation.

[Betty3]

State laws differ but normally when a car is repossed, the creditor/lessor have the legal authority to seize your car as soon as you default on your loan or lease. Most of the time the car is sold at a public auction (or maybe a private sale). Many states require the creditor/lessor to let you know the day & time of the public auction in case you want to attend & bid. It seems your car was just repossessed. Therefore, you can probably call the creditor & let them know you want to buy the car back & are prepared to pay what you owe. You can buy it back by paying all you owe + any expenses connected with repossesion. You can ask the bank how much the cost for expenses are & when you might get the car back. The expenses would vary according to how long they had to store the car, etc.