Six Tips on How to Get a Repossessed Car Back

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Repo man got your car? No sweat! MiniMo's got your back.Each year, there are over 1 million cars that get repossessed in the United States. So if the repo man recently took your car, you‘re not alone. The question is: how do you get it back? After all, not having a car makes it difficult to get to work, which makes it even more difficult to pay all of your other bills. And a repossession on your credit report will make it close to impossible to find financing for another car anytime soon.

The good news is, it can be done. You’ll end up paying a lot more than if you had made the payments in the first place, but that’s the price you pay for letting your car get repossessed.

Here’s what you need to do.

#1. Act fast.

You’ll be charged money for each day your car sits in the impound lot. And your creditor may decide to sell your vehicle at an auction to recover what they can financially.

#2. Be reasonable.

You may be mad and you may feel it wasn’t justified but you need to stay calm and talk to the creditor about getting your car back in a sensible manner. Many states have consumer protection laws that let you reinstate your loan and reclaim your car. You’ll have to pay the amount you owe on the loan as well as any penalties, repossession fees, and storage costs. Remaining loan payments must be made on time to avoid another repossession.

#3. Know your rights.

According to, there are consumer protection laws surrounding repossessions and if they are not followed exactly, you may have grounds for getting your vehicle back and perhaps even collecting money for damages.

#4. Decide if it’s worth it.

Coming up with enough money to satisfy your creditor may not be easy. You’ll have to borrow money from someone you know or consider getting a payday loan. It may be time to let the car, and the large car payment go, so that you can reduce your debt and get yourself back on track financially.

#5. Consider bankruptcy.

In some cases, if you file for bankruptcy shortly after your car is repossessed, you may be able to get the car back. But you will need to make your monthly payments in the future. If your car has been repossessed and you plan to file for bankruptcy, contact an attorney immediately.

#6. Buy it back.

Many states require that the creditor inform you if your car is to be sold at public or private auction and allow you to buy it back before that happens. Keep in mind that you’ll still have to pay additional fees to the creditor due to the repossession process.

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