The exact time when your vehicle may be repossessed depends on the details of your purchase agreements and your state’s laws. Your lender may also need to send you a written notice giving you a certain amount of time to repay the outstanding debt before your car can be repossessed.
Keep in mind: A forced repo and a voluntary repo do the same damage to your credit—so if you haven’t already, it’s a good idea to contact your lender as soon as possible to discuss your options. In some cases, they might be willing to work with you to get you back on track—especially if you’ve had a history of making on-time payments in the past.