I Am 2 Car Payments Behind And I Have A Disabled Son. I Live In Utah. Can They Repossess My Car?
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Yes, they can take your car. Your loan is secured by the car so if you stop paying on it then they can take it back.
Before that happens you should either get current, sell it and repay the loan or turn it in voluntarily.
You should realize that if they take it or you turn it in, when they sell it at auction you will still have to pay the balance between the loan amount and what they sold it for. So, if you owe $10k and they sell it for $5k you will still owe $5k which is why selling it on your own is a better bet. You will still have to pay the difference but you'll probably sell it for more than they will.
answered 2 years ago
Yes, they can ,but you can call them before they repossess it and see if you can make some kind of arrangement to get current.
answered 2 years ago