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It isn't needed for them to inform you. It depends on the Repo company really. Your loan bank, or "lender" pays to have your car repossessed, gives you a chance to buy it back for the either the amount that you owe (plus maybe a delinquency fee), otherwise the lender will give it to a dealership to sell it. If it doesn't sell at the dealership, the dealership CAN give it back to the lending bank, in which case they will put it up for auction somewhere.

So, they SHOULD notify you, but they CAN just take your car and wait for YOU to contact THEM to pay your amount before the try to get their money back for the car they paid for. But if you have some Jerk company the might not notify you and just try to sell the car immediatly.

Sorry, about your situation, but I hope that helped. I hope you didnt owe taxes because that is a whole other story!


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โˆ™ 2011-09-13 05:29:41
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Q: Is the lender or repossessor required to notify the borrower before taking the vehicle?
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What are your rights if you are a primary borrower of a vehicle and the seconday borrower is not paying the loan?

If the secondary borrower is not paying the loan, you must take the vehicle back from the secondary borrower before the bank takes back the vehicle and ruins your credit. You will learn from that not to cosign a loan.

In California what is the car repossesion law?

Answered by Reid Breitman. Answer is for information only and is not legal advice. Please consult your attorney before relying on any information on the internet. First, a great site to visit is Action Auto Recovery; they really know their stuff. See The repossession law is pretty broad. In a nutshell, if you have granted a security interest in your vehicle to secure performance of a contract, such as a loan, if you fail to perform the contract, the lender can repossess the vehicle. I do not believe they even need to notify you in advance. So if you are a day late, they can repo. Most lenders will call and try to work things out, because repossessing is expensive...can cost $300 to $500 or more to the lender, and they pass that along to the borrower/debtor. The repossessor must be a licensed and bonded repossession agency, except in limited circumstances (i.e., if the lender itself (i.e., its own employee) actually does the repo personally). The repossessor is subject to all kinds of regulations about how the repo can be done, notification procedures, etc. Briefly, the reposessor will find the vehicle, and attempt to repossess it. It cannot be taken from inside a locked, private facility (such as a locked garage). Once the repossessor gains possession of the vehicle, the owner cannot come running out of the house and force the repossessor out of the vehicle. It's gone the moment the repossessor gets into the vehicle (although some local police have a policy that the vehicle actually has to move, even an inch, before the repossessor has perfected possession). Once the repo agency is in possession, they will call the local police and report the repossession (so that when the owner calls to report the vehicle stolen, the police can tell them it was repossessed), and get a confirmation number. The lender must then send a letter to the borrower, called a 15 day notice of intent to dispose of collateral, at the borrower's last known address. The notice tells the borrower if he/she has the right to reinstate (i.e., make up the past due payments, pay the repo fee, and get the car back) or redeem (i.e., pay off the loan in full, plus the repo fee, and get the car back). All borrowers have a right to redeem, but they may be denied the right to reinstate if the same vehicle was repossessed by that lender within the prior 12 months, if the borrower threatens violence to the lender or its agents, the borrower uses the vehicle in connection with a crime, the borrower damages or conceals the vehicle, or the borrower lied on the loan application. The notice of intent has to have a lot of specific language, and inform the debtor about what the loan balance is, what is past due, what will become due in that 15 day notice period, etc. After 15 days, the vehicle can be sold. It must be sold in a commercially reasonable manner, such as an auction. If the amount realized at sale is less than the amount owed by the borrower to the lender, then in most cases the lender can sue for a deficiency judgment, meaning that the lender can get a judgment against the borrower for the difference between the loan balance and the net proceeds of the sale of the collateral. If the vehicle sells for more than the amount owed, then the lender must give an accounting to the borrower within 45 days, and refund the excess proceeds. I hope this is helpful.

Can you find my car by the VIN if it was stolen or repossessed?

There are certain strict procedures that an automobile repossessor must follow when he is repossessing your car. The repossessor must notify the police that such vehicle is being repossessed, you did before or after the repossession has occurred. In either case, the police should know right away that the vehicle was repossessed. If this is not the case, then the vehicles like to have been stolen.

How much time must the lender allow the borrower before a vehicle is repossessed?

I believe if you haven't paid in three months they can repossess your vehicle in Utah. *The state does not require a Right To Cure notice be sent to the borrower. The lender may recover the vehicle whenever the contract is in default. UCC laws apply, and the vehicle can be recovered by any means that does not constitute a breach of peace. The plates remain with the borrower/debtor.

If you repo'd a car and after the fact the customer's attorney called and notified you that the customer had filed for bankruptcy and you were required to return the vehicle do you have to return it?

Absolutely. Any creditor action including repossession cannot be taken after the filing of a BK and/or before the BK is completed and discharged. The vehicle will have to be returned to the borrower to await action by the lender such as requesting the BK stay be lifted or a reaffirmation agreement made between the lender and borrower.

Repossession law in California?

Under California law, a creditor can repossess the vehicle if it is in default without notice, even if the car payment is one day late. However, if there is a co-borrower on the loan, the creditor is required to give notice before repossession.

Can you get your car back if you file a chapter 7 bankruptcy before it is auctioned off?

If the lender is willing to reaffirm the loan with the borrower then the vehicle can be returned. A vehicle is a secured debt and is not subject to chapter 7 bankruptcy laws.

Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?

Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.

Can you insure a new car before purchase?

In most states it is legally required that you have insurance on the vehicle before driving it off the lot.

Do you need auto insurance before you buy a car?

You are required to have at least Liability Coverage for the vehicle before ytou drive it off the lot!

Are you required to have an established business before you can qualify for a commercial vehicle loan?

Depending on the state you are in you may need to have an establish business first before getting the vehicle. You can always get a vehicle in your personal name and then sell it to your business name in order to gain access to your vehicle for business use.

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Up to 1000, before a CDL with a hazmat endorsement is required, regardless of what class vehicle you're operating.

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