When you take out a loan with Bridgecrest, you are responsible for making your payments on time. If you fail to make payments and fall into debt, Bridgecrest may repossess your car. So, when does Bridgecrest repo your car?
How Does Bridgecrest Repossess Your Car?
Bridgecrest can repossess your car in a few different ways. The first is a voluntary repossession. This is when you turn your vehicle over to Bridgecrest and agree to the terms of the agreement. This is an easier and more cost-effective way to repossess your car, as it costs less than a traditional repossession.
The second way Bridgecrest can repossess your car is through a traditional repossession. This is when Bridgecrest sends a repossession agent to your home or place of employment to take your vehicle. This is typically more expensive and time-consuming than a voluntary repossession.
What Happens After Bridgecrest Repossesses Your Car?
Once Bridgecrest has repossessed your car, they will sell it at an auction. This will cover the costs of the repossession and any remaining balance you owe on the loan. If the sale of your car does not cover the full balance of the loan, you will still be responsible for paying the remaining balance.
You may also be responsible for the costs associated with the repossession, such as storage and towing fees. Bridgecrest may also report the repossession to the credit bureaus, which can negatively impact your credit score. It is important to contact Bridgecrest after the repossession to try to negotiate a repayment plan.
How Can You Avoid Repossession?
The best way to avoid repossession is to make your payments on time. If you encounter any financial issues or difficulty making your payments, contact Bridgecrest as soon as possible. They may be able to work with you to adjust your payment plan or find a solution that works for both parties.
You can also try to sell your car yourself before Bridgecrest repossesses it. This can help you avoid the costs associated with a repossession, as well as any negative impacts to your credit score.
Frequently Asked Questions
How Can I Contact Bridgecrest?
You can contact Bridgecrest by phone at 1-800-937-4700 or online at www.bridgecrest.com/contact-us/.
What Should I Do If I Can't Afford My Car Payment?
If you are unable to make your car payments, it is important to contact Bridgecrest as soon as possible. They may be able to work with you to adjust your payment plan or find a solution that works for both parties.
What Costs Are Associated With a Repossession?
If your car is repossessed, you may be responsible for the costs associated with the repossession, such as storage and towing fees. You may also be responsible for any remaining balance on the loan.
What Are Bridgecrest's Repossession Policies?
Bridgecrest's repossession policies can vary depending on the state you live in. You can find more information about Bridgecrest's repossession policies on their website www.bridgecrest.com/policies/.
Can Bridgecrest Repo My Car Without Notice?
Yes, Bridgecrest can repossess your car without notice in some states. You can find more information about Bridgecrest's repossession policies on their website www.bridgecrest.com/policies/.
What Happens If My Car Is Sold for Less Than I Owe?
If the sale of your car does not cover the full balance of the loan, you will still be responsible for paying the remaining balance.
How Long Does It Take for Bridgecrest to Repo My Car?
The length of time it takes for Bridgecrest to repossess your car can vary depending on the state you live in. You can find more information about Bridgecrest's repossession policies on their website www.bridgecrest.com/policies/.
Can I Sell My Car Before Bridgecrest Repossesses It?
Yes, you can try to sell your car yourself before Bridgecrest repossesses it. This can help you avoid the costs associated with a repossession, as well as any negative impacts to your credit score.
What Should I Do After Bridgecrest Repossesses My Car?
It is important to contact Bridgecrest after the repossession to try to negotiate a repayment plan. You may also be responsible for the costs associated with the repossession, such as storage and towing fees. Bridgecrest may also report the repossession to the credit bureaus, which can negatively impact your credit score.