DriveTime’s repossession policy varies, depending on the terms outlined in your contract. 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 reposession process, see below.
DriveTime Repossession Policy
DriveTime only sells cars and initiates the loan application process, customer service told us. Car loans and DriveTime repossession policies are handled by third-party lenders; Gold Financial and Bridgecrest are two of DriveTime’s loan partners.
We spoke with a customer service representative from Bridgecrest to inquire about DriveTime’s repossession policy. While policies vary depending on the terms of your auto loan contract, Bridgecrest will typically repossess your DriveTime vehicle 60 days after defaulting on the loan, the representative said.
Repossession happens when you’re unable to pay your car loan. Legally speaking, in most states, your car can be repossessed immediately after you default on the loan. If you’re worried about repossession, you should take with your lender. In general, lenders don’t benefit if you default on your loan, so they’ll want to work with you to find a solution. You may also want to consult this guide on what to do if you can’t make your car payment.
To prevent missing a payment, you can enroll in autopay — a service offered by Bridgecrest (and other lenders) free of charge. To sign up for autopay, you’ll need an active bank account or Netspend. Just be sure you have sufficient funds each month. Sign up online for autopay on your Bridgecrest loan or contact a customer service representative at (800) 967-8526 to sign up for autopay over the phone.
You may also want to read if you can trade-in your DriveTime car for one with perhaps lower payments.
DriveTime’s repossession policy depends on the terms of your contract, but it will typically take 60 days from the time you default on the loan for your car to be repossessed.
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