WE ARE A LAW FIRM AND CANNOT CUT CORNERS … NOT EVEN FOR PEOPLE WHO REMOVE their cars for repossession, BY FAILING TO RETURN PHONE CALLS! Understanding California Repossession Laws Cal. repo laws are strict; they let the lender take back your vehicle after you miss just ONE payment if that borrower also fails to carry insurance onthe aforesaid car. That may not be a requirement everywhere except in states like California, where we’re told there is no grace period for consumers — so one missed payment would mean that your vehicle could easily find its way back to the finance company or dealer lot. Even worse, repossessions are often without notification before the company that takes possession of a vehicle.
Important Notes for California Repossession;
Repossession: Lenders can very often take back a vehicle after more than one missed payment (in some states just 1) or breached contact term, such as no longer maintaining active insurance. Borrowers unawareThe absence of a grace period can come as a surprise to borrowers12.
Repossession: California does not require pre-repossession notices that are required in some states.repossession laws (ad) That leaves consumers with very little time to try and fix their financial position before they lose their cars24.
Breach of Peace: Repossession agents can repossess cars however this must be done without breaching the peace. They generally can only enter unlocked properties and are not allowed to threaten or use violence. They can remove cars only from public places, such as streets or parking lots13.
Post-Repossession Rights:
Borrowers are entitled to notices following repossession which should detail their rights and how they can reclaim their vehicle. In some cases, they could pay the remainder of what is owed and any additional fees to takeaway from their car being auctioned. If sold, the borrower remains liable for any short sale deficiency (difference between what was owed and final sales price) 35 This information is vital for California consumers to utilize during potential repossessions.
