When can a bank reposess car?

A bank can repossess your car if you default on your car loan. This means you have missed a certain number of payments, typically three or more. The bank will send you a notice of default and give you a chance to bring your payments up to date. If you do not do this, the bank can then repossess your car.

The bank can also repossess your car if you violate any other terms of your loan agreement. For example, if you fail to maintain insurance on your car, or if you use your car for illegal purposes, the bank can repossess it.

If your car is repossessed, the bank will sell it at auction. The proceeds from the sale will be used to pay off your loan balance, and any remaining funds will be returned to you.

If you are facing repossession, you should contact the bank immediately and try to work out a payment plan. You may also want to consider hiring an attorney to help you protect your rights.