PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How much are repossession fees?
Times have been tough for me financially as of late. My car payment is due at the end of the month and I’m concerned that I’m not going to be able to afford it. If they repossess my car, what will I need to pay?
Drew Waterstreet · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Repossession fees can be hundreds or even thousands of dollars—likely more than your original car payment.
Repossession fees often add up to more than the car is even worth. Here are some expenses that may be involved with repossessing your vehicle:
- Towing and storage fees
- Public auction fees
- Legal fees
- Outstanding principal balance and unpaid interest
Even after your vehicle is sold at a public auction (at a state-determined reasonable price), you could still be on the hook to pay the rest of your loan. This is known as a
deficiency balance
.Rather than accepting your fate, it’s worth reaching out to your lender to ask about alternate methods of payment.
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
