How Do You Get a Car Back After Repossession?

Couple Buying A Car in Another State

We all have unfortunate and unfathomable things happen to us. Some people may lose their job in Glendale or have an emergency that flips their world upside down. If this is your case, you might be wondering, “how do you get a car back after repossession?” Once you’ve reached financial stability, there are a few steps to take to get your vehicle back after repossession. Learn how to get a repossessed car back with us, at Rocky's Auto Credit in Mesa! Then, let’s work on a finance plan. 

How to Get a Repossessed Car Back: Reinstate a Loan 

Can you get your car back after a repo? Yes! Usually what happens in Phoenix or Tempe is that you can get your car repoed without any warning or notification. How do you get a car back after repossession? The lender or leasing company will typically return the vehicle once you pay the entire outstanding balance as well as repossession fees.

Can you get your car back after a repo you knew might happen? Yes, but there are a few hoops to go through before your vehicle is released. The lender will need to reinstate your loan, which means you have to be certain that you can afford all future payments.

How to Get a Repossessed Car Back: Buy it Back at the Auction

Can you get your car back after a repo in an auction? If your vehicle is placed in the auction that your lender is hosting, you can pay for it in cash. The lender will notify you 30 days prior to the auction to buy it back for full price plus repossession fees.

How to Get a Repossessed Car Back: File for Bankruptcy 

Filing for bankruptcy can be very scary, but it can help your chances of getting your vehicle back. If you file for bankruptcy, the courts require all creditors to ask permission from a standing judge to repossess the vehicle. A huge result of filing bankruptcy can be major damage to your credit score, so make sure this is your best option. 

Explore Car Payment Options with Rocky's Auto Credit

Contact us at Rocky's Auto Credit once you’re ready to figure out your next steps. Learn more about repossession loans with us so you can get back on the road to financial wellbeing.