What are the laws regarding car repossession?

Answer by  sockmunkey (78)

Each state has a different statue of laws when it comes to the repossession of cars. You can check the website to your state DMV to find this type of information. Try negotiating a short term adjustment of payment with whomever or wherever you're paying your auto loan off to.

Answer by  BeefStrule (690)

They can't take it away from you if you're pregnant or disabled. Other than that, it's pretty much open. You could try to argue that you have a special situation and they might hear your claim, but historically there's not much anybody has been able to do about it. I'd get a new car.

Answer by  tamarawilhite (17883)

The difference between what you owe and the sale price at auction is your responsibility. The lender can then sue you for that amount.

Answer by  Hewitt302 (1720)

If you can pay off the overdue amount before the car goes to auction, then you should be fine, otherwise, once the car gets repossessed, it belongs to the dealership/bank, and you'll have to wait until the auction date to reclaim your automobile. the important thing is to work as much as you can with the dealer or bank.