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Repo question state of nm title co in Ca went into default due to economy am in oil and gas industry Laid off and unable to pay lender not on title as lienholder can they repo vehicle?
Wiki User
∙ 14y ago
Simple answer: in the state of New Mexico, if you default on your vehicle loan, and are not able to bring the payments current, the lender has the right to take possession (to repossess) the vehicle. You can try to contact the lender and see if they will make some sort of arrangement. Unless you do this quickly, though, it is unlikely they will work with you, and you may be asked to surrender it voluntarily.
Wiki User
∙ 14y ago
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