What are my rights regarding vehicle repossession?
Your creditor or lessor has legal authority to seize your vehicle as soon as you default on your loan, as defined by your contract. They can do this without warning you in advance so long as they do not breach the peace. They usually may not keep or sell any personal property found inside. If the car is sold, the creditor must pay you any amount received in excess of the debt and reasonable repossession and storage fees. Even if you return the car voluntarily, you are responsible for paying any deficiency on your sale or lease contract.
