Colorado Car Sales Practice Test

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Prepare for the Colorado Car Sales Exam. Use flashcards and multiple-choice questions with hints and explanations. Get ready for success!

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How many days after a consumer defaults can a creditor give notice for repossession?

3 days
5 days
10 days
15 days

The correct answer is: 10 days

A creditor can provide notice for repossession after a consumer defaults within 10 days. This timeframe allows creditors to determine the situation regarding the default and ensures they follow the appropriate legal protocols before taking further action. The 10-day period is designed to protect consumers by ensuring they have a fair opportunity to address the default—such as making missed payments—before repossession steps are initiated. Therefore, this option aligns with standard practices regarding notice requirements in matters of repossession.