 TITLE: How Can I Stop My Car From Being Repossessed? CONTENT: How Does Car Repossession Work?\n-------------------------------\nWhen you finance a vehicle, the lender owns the car and maintains the title until you've paid off the loan in full. If your loan goes into default, the lender may seize the vehicle and sell it at auction to recoup some or all of the amount you owe. And if the lender sells the car for less than what you owe, you may be required to pay the difference.\nThe timeline between when you miss your first payment and when you're considered to be in default can vary from lender to lender. With some, it can take months, while with others, it can happen as soon as you're 30 days past due. Your loan contract should provide information about how your lender defines default, so be sure you understand it if you're worried you may default on the loan.\nRepossession laws vary by state, so if you believe there's a possibility your car will be repossessed, familiarize yourself with your state's laws surrounding the process. END