My car was repossessed, what do I do?

March 31, 2016

Having your vehicle repossessed can be extremely stressful and even embarrassing if done at home or work.  Chances are you depend on your car to get you to work everyday and to transport your family when they need it.  We understand this and will help you overcome this tough time.

 

First off, you do have rights.  When you entered the loan on your vehicle you singed a contract and it states the rights both you and the lender have regarding your vehicle possession.  According to the Federal Trade Commission,  "When you finance or lease a vehicle, your creditor or lessor has important

rights that end once you’ve paid off your loan or lease obligation. These rights are established by the contract you signed and the law of your state. For example, if you don’t make timely payments on the vehicle, your creditor may have the right to “repossess” — ­or take back your car without going to court or warning you in advance. Your creditor also may be able to sell your contract to a third party, called an assignee, who may have the same right to seize the car as the original creditor."  If this is the case and you are behind on payments and the lender has the right to repossess your vehicle, there may not be much you can do.  You can call the lender and ask if there is anyway to get the vehicle back by catching up on payments or working out a new payment plan.  

 

If you find out there are not other options and you are officially without a vehicle, that is where Flint Car Credit can come in an rescue you.  We have lending institutions and relationships setup that specialize in getting clients a vehicle right after a repossession.   The good news is when you choose to purchase another car with one of our lenders, you will be on your way to rebuilding your credit and putting the repossession behind you.  

 

We look forward to helping you reestablish your credit history and get you into a car loan today.  Go ahead and fill out our easy credit application to get started now.  

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My car was repossessed, what do I do?

March 31, 2016

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