What happens when a vehicle is repossessed?

Answer Repossession is not the end of your relationship with your car. There are several chances to reclaim your car between the time it was taken back by the finance company and the moment it is sold at ... Read More »

Top Q&A For: What happens when a vehicle is repossessed

What Happens to Repossessed Homes?

Homeowners who default on their mortgage loans may face repossession of their homes. Once the foreclosure process has begun, a home is sold at public auction to satisfy the terms of the loan.

How to Buy a Repossessed Vehicle?

A lender repossesses a car when the owner fails to pay on the loan or meet other terms of the loan agreement. Since lenders want to sell repossessed vehicles quickly, most put the autos up for auct... Read More »

What Happens When I Donate My Vehicle?

You no longer have a need for that old clunker sitting in the driveway. No one in the family drives it and you don't want to deal with the details of owning it anymore such as registration and smog... Read More »

What happens after a car has been repossessed?

After a car is repossessed, several things could happen to the vehicle. If the borrower who defaulted pays the past due obligations, the vehicle could be returned. If not, a vehicle may be resold t... Read More »