Of course they can repo the car, and it is not yours until it has been paid in full. Late means you breached the contract, which gives them the right to repo it. If you had been paying on time for a couple of years and then were late a few days "once", they would likely give you a break and just charge a late fee but - your FIRST payment!!! Now they they know they will likely have trouble with you hereon out. Pay it when you said you would and don't be late again. Otherwise, you will get further and further behind because late fees are not cheap. Btw, and you probably don't want to hear this but, Not having the first payment means that you never could afford the car. Is it even insured? You are eating okay, aren't you?