It is undeniably true that car repossession has dire consequences on your credit score and affects your future chances of credit ability. Using a car loan may seem like the best way to own your dream ...

When you signed the financing agreement that enabled you to buy a car on payments, you made a legally binding promise to make those payments on time every month. If you miss a single payment by 30 ...

More than 1.2 million cars were repossessed in the United States in 2022, according to the Journal of Consumer Reports. 1 If your vehicle has been repossessed or you’re at risk of repossession, there ...

If you don’t pay your car loan, your car may be repossessed Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and ...

Your car is an example of secured debt, which can be seized by a debt collector, depending on the terms of your loan. Whether a debt collector can repo your car can also depend on the type of ...

Car repossessions, which are becoming more common after a dip during the COVID-19 pandemic era, have serious financial consequences for lenders and borrowers. Over a million cars were repossessed in ...