How Do I Find Out If a Certain Car Is up for Repo?

To determine if a vehicle is up for repossession, contact the finance or leasing company that provided the car loan. Failure to make payments on time typically gives the creditor or lessor the right to repossess the vehicle.

When a vehicle is leased or financed, creditors create a contract denoting the ownership rights of the lessor and the lessee in the agreement. The rights vary depending on the terms and conditions established by the leasing company as well as state laws. Unless otherwise specified in the contract, the lessee becomes the owner of the car when the loan is paid in full. The Federal Trade Commission recommends talking directly to creditors or lessors to prevent repossession if late payments are anticipated.