How do you check if your car is up for repo?


Quick Answer

To find out if your car is about to be repossessed contact the lender that owns your car note and ask about the status of your loan. If you call before the car loan goes into default, you might avoid a situation where the lender contacts a car repossession service. Explain why you have difficulty making car payments and ask about alternative payment arrangements.

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Full Answer

Your lender knows whether or not your car has been ordered for seizure, and if you live in a state that allows lenders to seize vehicles as soon as you default, the repo man might be on his way to collect your car. It's in your best interest to avoid this scenario by discussing your financial situation with your lender and working out a refinancing agreement, which reduces your payments. The lender might agree to temporarily waive payments for a period of time, allowing you to keep possession of your car. Your lender is under no obligation to change the lending agreement, but lenders are usually open to working things out.

Depending on how much money you owe on the car loan, you might be able to sell your vehicle and use that money to settle the remaining debt. This strategy works best when the value of your car is higher than the amount you owe.

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