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  2. What To Do If Your Car Is Repossessed - AOL

    www.aol.com/car-repossessed-120051609.html

    If you owe $12,000 on the loan, for example, and the lender sells your repossessed car for $8,000, the $4,000 difference — as well as any associated fees and costs — are called the deficiency ...

  3. Vehicle impoundment - Wikipedia

    en.wikipedia.org/wiki/Vehicle_impoundment

    Vehicle immobilization is a key part of the act of impounding.. Vehicle impoundment is the legal process of placing a vehicle into an impoundment lot or tow yard, [1] which is a holding place for cars until they are placed back in the control of the owner, recycled for their metal, stripped of their parts at a wrecking yard or auctioned off for the benefit of the impounding agency.

  4. Car Repossession: What to Do Before, During and After - AOL

    www.aol.com/car-repossession-during-160042812.html

    The effects of the coronavirus pandemic have been especially burdensome on auto loans borrowers. Unlike student loans and mortgages, there are no government-backed relief programs to cover a ...

  5. Repossession - Wikipedia

    en.wikipedia.org/wiki/Repossession

    Usually, the vehicle owner must be notified of a repossession. The repossession agent will find the car and check its information such as the vehicle identification number (VIN) to make sure they have the right vehicle. If there is a match, they will attempt to hook up the car to the tow truck and tow it away or pick the lock and drive it away.

  6. 6 Crucial Steps to Take If Your Car Is Repossessed - AOL

    www.aol.com/6-crucial-steps-car-repossessed...

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  7. Auto auction - Wikipedia

    en.wikipedia.org/wiki/Auto_auction

    Off-rental: rental car companies normally replace their fleets once a year, releasing a flood of late-model cars to the secondary market. Like the big financial institutions that underwrite car leases, rental companies also rely on auto auctions to sell off their used inventory. These vehicles tend to be well-maintained and driven for only one ...

  8. Car Repossessions on the Rise — Are You in Danger of ... - AOL

    www.aol.com/finance/car-repossessions-rise...

    For example, it was reported that Wells Fargo Auto is giving repossession agencies an extra $500 per vehicle to rope in car owners who have strayed off the payment path.

  9. Self-help (law) - Wikipedia

    en.wikipedia.org/wiki/Self-help_(law)

    This occurs, for example, when a financial institution repossesses a car on which it holds both the title and a defaulted note. Individuals may resort to self-help when they retrieve property under the unauthorized control of another person or abate nuisances, such as using sandbags and ditches to protect land from flooding.