Vehicle Repossession

Under the Texas Repossession laws, it says that a creditor has the right to repossess your vehicle if you "default" on your payments. I have read my contract and it doesn't have a clear meaning of "defaulting" on the payments. It is financed at a normal FDIC Bank. My question to you is how many days past due do you have to be on your payment before you are considered "defaulted", therefore subject to repossession.

Normally any late payment is a default unless a grace period is in the contract.

But doing a repo is costly so lenders dont jump on any late payment.

Not sure on TX rules. But your state attorney general's office could confirm.