Question: I haven’t been great about making my car payments on time, and I’m worried that my car could get repossessed as a result. How can I find out if my car is on a repo list?
Answer:
In most cases, you won’t be able to access your lender’s car repossessed list if you’ve missed a few car payments. The best way to find out if your car is up for repossession is to contact your lender and ask about the status of your car loan.
Some lenders extend a grace period between 60 and 90 days following a missed payment—but even a single missed payment could mean trouble.
Will I be notified before my car is repossessed?
Your state laws will determine whether the lender will notify you before repossessing your vehicle.
In some states, lenders are legally allowed to repossess a vehicle once you miss a loan payment—and they can come to your property at any time, with or without notice, to do so.
However, some states require lenders to notify you that you’ve missed a payment. In the notice, the lender will give you a deadline to pay what you owe (including any late fees). They’ll have the right to take the vehicle if you’re still behind on payments by the deadline.
What to do if you can’t make your car payments anymore
Here’s what we recommend if you need help paying your car note.
Work out a plan with your lender
If you’re struggling to make your car payments, reach out to your lender right away. Depending on the terms of your loan, you may be able to work out a financial plan with your lender that allows you to keep the car and catch up on payments over time.
Refinance your loan
If you’ve managed to stay on top of your car payments so far and your credit score is in decent shape, you may also be able to refinance your car loan. Extending the length of your loan could lower your monthly payments to a more manageable amount and improve your financial situation. Your monthly payments may also be lower if you can secure a lower interest rate for your loan.
Voluntary repossession
If you can’t work out a new payment agreement, you may also have the option to surrender the car. This is known as a voluntary repossession. There’s no difference in the impact on your credit score—any repossession will appear on your credit report for seven years—but it shows the lender you’re trying to make a responsible decision, and they may be willing to waive some of the fees typically involved in a repossession.
It is important to note that you could still owe money to your lender after a voluntary possession, so this isn’t a decision you should make lightly.
Learn more: Missed car payments and repossession: What you need to know
Expert insurance writer and editor Amy Bobinger specializes in car repair, car maintenance, and car insurance. Amy is passionate about creating content that helps consumers navigate challenges related to car ownership and achieve financial success in areas relating to cars. Amy has over 10 years of writing and editing experience. After several years as a freelance writer, Amy spent four years as an editing fellow at WikiHow, where she co-authored over 600 articles on topics including car maintenance and home ownership. Since joining Jerry’s editorial team in 2022, Amy has edited over 2,500 articles on car insurance, state driving laws, and car repair and maintenance.
Giselle Gomez is an editor with over a decade of experience editing content across personal finance, education, travel, and sports. In editing for Jerry, Giselle’s focus is on making sure content is consumer and SEO-friendly and helping readers understand all things car ownership. In prior roles, she worked as a content strategist, syndication editor, and writer. Her work is featured in AP, NerdWallet.com, BestColleges.com, and more. Giselle holds a master’s degree from Arizona State University.
