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Can the dealership repossess my vehicle?

Can the dealership repossess my vehicle?

There are times when a dealership is allowed to repossess your vehicle and times when the law prohibits them. Dealerships will often attempt every loophole possible to skirt these laws and hope that people are misinformed on what’s legal and what is not if a dealership fails to follow specific rules and forces you to return your vehicle without your consent, there at times where they may have conducted an illegal repossession.

When you purchase a vehicle, the dealership must find a lender to finance the agreement. The dealership generally writes in a ten-day window into an agreement, but it can be longer.

If you are current on your payments and the dealership is not able to find a lender after that window, they cannot legally repossess your vehicle because of that reason. The dealership will be required to step into the role of the lender and finance the agreement.

Dealerships are generally allowed to legally repossess your vehicle if you miss a payment, even if the payment is missed by a day or two. 

Can the dealership repossess my vehicle

However, if you stop making your payments because the dealership fails to provide you with registration within three months, the dealership cannot repossess your vehicle. 

On the other hand, if you are behind on your payments, you should attempt to communicate with the lender or dealership before repossession occurs. They will often work with you to find a way to keep your vehicle by reducing your payment, lowering the interest rate, or waiving a payment by adding it to the back-end of the contract.

What happens after my vehicle is repossessed?

If your vehicle is legally repossessed, the lender will try to sell it at an auction as soon as possible to satisfy the outstanding loan. This may be problematic to you because the vehicle could sell for less than what you still owe on it. If that happens, you will still be liable to pay that difference in addition to having a repossession on your credit history.

If you believe that the dealership illegally repossessed your vehicle, we can assist you with getting your money back. At times, we can force the dealership or lender to pay you extra corrective compensation. Make sure you keep records of any communication or notifications from the dealership or the lender.

Call us today for a free consultation before time runs out to pursue your claim.

Why Choose The Lemon Pros?

Our specialty is Lemon Law, that is why we only handle Lemon Law claims. When you hire us, our attorneys will do all the legal work for you, because we understand the stress that consumers like you deal with when they have a Lemon.

We have an excellent success record in representing consumers just like you! We are award winning attorneys, but that has not gotten to our heads. We are attorneys who care and give personalized attention to each and every client, our attorneys directly handle your claim.

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