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In some states, your creditor must let you know what will happen to the car. However, if your creditor agrees to change your payment date, the terms of your original contract may not apply any longer. Contact your state consumer protection agency or an attorney if you have questions about the use of these devices in your state. If you can reach an agreement to change your original repossessed cars for sale contract, get it in writing to avoid questions later.

If you have a P3P-enabled browser or have your cookies blocked, you may not be able to access some custom features or state-specific information on our Web sites. For example, if you don’t make timely payments on the vehicle, your creditor may have the right to “repossess” — ­or take back your car without going to court or warning you in advance.

If you are new to this concept but would like to learn more about it, then this guide will be useful for you. According to the Federal Reserve Bank of Boston, in 2008 four out of five Americans had at least one credit card, and the average American consumer has 2.7 cards.

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