Car Repossession Process
If you can't make your car payments, your lender may eventually repossess your vehicle. The process of repossession starts when you miss a payment. Here's what to expect if your car is being repossessed.
The first step in the process is usually a phone call or letter from the lender. This contact is to remind you that you're behind on payments and to ask how you plan to catch up. If you can't come up with a plan or make a partial payment, the lender may then start the process of repossession.
Next, the lender will send a notice of intent to repossess, which gives you a chance to bring your payments current and avoid having your car taken away. If you still can't make payments or reach an agreement with the lender, they'll send someone to physically remove the vehicle from your property.
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