Here's why your car can be repossessed regardless of its parking position:
* Defaulting on loan payments: The most common reason for repossession is failing to make your loan payments as agreed in your loan contract.
* Breaching loan terms: This could involve anything from not providing proof of insurance to using the vehicle for commercial purposes when it's prohibited by the loan agreement.
Repossession can happen even if your car is parked in a private driveway, garage, or even on public property. Repossession companies are usually authorized to access private property to take the vehicle, although they may need a court order in some cases.
Important Note:
* You should always contact your lender first if you're having trouble making payments. They may be willing to work with you to find a solution.
* State laws can vary regarding repossession procedures.
If your car is being repossessed, it's crucial to understand your rights and options. Seeking legal advice from a qualified attorney can help you navigate this situation effectively.
