What does the law say about having your car repossessed?

Answer by  patti (29325)

Repossession is a protection afforded a lender. As a borrower, you have a contractual agreement to make payments as agreed. Failure to meet the responsibilities as the borrower leaves the lender no recourse but to take possession of the property and sell it to recover. The law varies by state, but ultimately rights and responsibilities go hand in hand.

Answer by  johnman (72)

Basically if you fail to make your car payments the place you loaned or purchase your car from has the legal right to come and repossess your. There isn't really anything you can do about it

Answer by  withluck (1745)

Vehicle repossession laws are different from state to state and are outlined by each state very specifically. You will need to check the laws in the state you are in to be sure of your rights.