If you fail to make your car payments or otherwise default on your loan, you risk having your car repossessed by your lender. Read on to learn more about how car repossessions work, how to avoid them, and what your options are if your car gets repossessed.
If your car loan lender repossesses your car, you probably are not entitled to any notice prior to the repossession. However, in most states the car lender must provide you with certain notices after the repossession. Read on to learn about what your car lender must tell you after the repossession
When you take out a car loan or lease, the agreement you sign usually contains language that allows that creditor to keep title to the car and take back the vehicle if you default on the agreement (usually by failing to make payments). There are two ways that a creditor can legally regain possession