[Dealer Name]
[Dealer Address]
[City, State, ZIP]
[Date]
[Recipient Name]
[Address]
[City, State, ZIP]
Subject: Repossession of Vehicle
Dear [Recipient Name],
We are writing to inform you that we are taking possession of the following vehicle due to your failure to make the monthly payments as agreed upon in our contract:
- Make: [Vehicle Make]
- Model: [Vehicle Model]
- Year: [Vehicle Year]
- License Plate Number: [Vehicle License Plate Number]
- VIN Number: [Vehicle VIN Number]
As you are aware, you entered into a finance contract with us on [date] for the purchase of the above-mentioned vehicle. The total amount financed was $[total amount financed], and you agreed to make monthly payments of $[monthly payment] beginning on [date] and continuing on the [day] of each subsequent month. However, you have failed to make the following payments:
- [Payment Due Date]
- [Payment Due Date]
- [Payment Due Date]
As a result of your failure to make these payments, we are exercising our right under the contract to repossess the vehicle. Please note that we may also seek legal action to recover any outstanding balance on the loan.
You have 10 days from the date of this letter to redeem the vehicle by paying the full outstanding balance of $[outstanding balance] plus any applicable fees and charges. If you fail to do so, we will proceed to sell the vehicle and apply the proceeds to the outstanding debt.
If you have any questions or would like to discuss this matter further, please contact us at [phone number] or [email address].
Sincerely,
[Dealer Name]
