Can they repossess your car if paid for 70 percent of it?

Yes, your car can be repossessed even if you have paid 70% of it if you default on your loan payments. When you take out a car loan, you are essentially borrowing money from the lender to purchase the car. The car serves as collateral for the loan, meaning that the lender has the right to repossess it if you fail to repay the loan according to the terms agreed upon.

The percentage of the car that you have paid off does not impact the lender's right to repossess it if you default on the loan. As long as there is an outstanding balance on the loan, the lender has the legal right to take possession of the car if you breach the terms of the loan agreement.

To protect yourself from repossession, it is crucial to make your loan payments on time and as agreed. If you are experiencing financial difficulties and are unable to make your payments, you should contact the lender immediately to discuss options for modifying or restructuring the loan. Avoiding communication with the lender or ignoring default notices can lead to the lender taking action to repossess the vehicle.

Remember, repossession can have serious consequences, including damage to your credit score and difficulty obtaining future loans. It is always best to proactively address any issues related to your car payments to prevent repossession.