- Vehicle Repossesion: Seizing the Vehicle
- Vehicle Repossession: Selling the Car
- Vehicle Repossession: Paying the Deficiency
- What should I do if I am unable to meet my car loan payments?
- Should I voluntarily surrender my car if I cannot make the loan payments?
- Do I have the right to cure the default if I miss car loan payments?
- If I am unable to cure the default on a car loan, do I have a right to redeem the vehicle?
- Could bankruptcy help me prevent my car from being repossesed?
- U. S. Bankruptcy Court - District of Delaware
If I am unable to cure the default on a car loan, do I have a right to redeem the vehicle?
If you are unable to cure the default, you still have an absolute right to redeem the vehicle any time before the creditor has sold or otherwise disposed of the vehicle. To redeem your vehicle, you must pay the total remaining amount of the loan due, not just the delinquent installments. Plus, you might have to pay reasonable repossession expenses and attorney's fees if any were actually incurred.