Reasons a dealer might refuse repossession:
* Legal complications: They might believe repossession would violate state laws regarding due process, notice requirements, or the time of day repossession can occur.
* Location issues: The vehicle might be in a location that makes repossession difficult or dangerous.
* Cost vs. benefit: The cost of repossession might outweigh the value of the vehicle, especially if it's significantly depreciated.
* Internal policy: The dealership might have internal policies restricting repossessions under certain circumstances.
* They're not the lender: The dealership might have sold the contract to a third-party lender who is responsible for repossession.
What you should do if the dealer refuses:
1. Contact the lender directly: The lender (likely a bank or finance company) is ultimately responsible for repossession, not the dealership. Find out their repossession procedures and timelines.
2. Review your contract: Carefully examine your loan or lease agreement. It will detail the lender's contact information and the process for defaulting on the loan.
3. Understand your rights: Familiarize yourself with your state's laws regarding repossession. Laws vary, and understanding your rights is crucial.
4. Negotiate with the lender: Attempt to work out a repayment plan or alternative solution with the lender before they resort to repossession. This might involve surrendering the vehicle voluntarily.
5. Seek legal counsel: If you can't reach an agreement and face repossession, consult with an attorney specializing in consumer law or debt collection. They can advise you on your legal rights and options.
6. Prepare for repossession (if it happens): If repossession occurs, ensure you understand your rights regarding retrieval of your personal belongings from the vehicle.
Important Note: Ignoring the situation won't make it go away. Continued default on your loan will likely result in negative impacts on your credit score, potential lawsuits, and further legal action. Proactive communication and action are crucial.
