Who can repossess your car?

A lender or creditor can repossess your car if you fail to make your loan or lease payments. In most cases, the lender will send you a notice of default and give you a chance to catch up on your payments before repossessing your car. However, if you do not make the payments, the lender can repossess your car without further notice.

Car repossession can also occur for other reasons, including but not limited to:

* Filing for bankruptcy

* Abandoning the car

* Violating the terms of your loan or lease agreement

* Having your car impounded by the police

* Being involved in an accident that totals the car

If your car is repossessed, you will need to pay the outstanding balance on your loan or lease, as well as any associated fees and expenses. If you are unable to pay these costs, the lender may sell your car at auction.

To avoid car repossession, it is important to make your payments on time and in full. If you are having trouble making your payments, you should contact your lender or creditor as soon as possible to discuss options for modifying your loan terms or making other arrangements to avoid repossession.