Bank Tires of Late Payments

• The process begins at the bank, where a credit manager determines when a car needs to be repossessed because of late payments. The manager could give the job to someone at the bank, or he might call a repo company. If you don't want your car repossessed, the best thing to do is talk to the credit manager and work out a payment plan early in the process. Prevention is the best option. Anyone can repossess a car, however, if they have the legal right to do so, so car lots, loan companies, and individuals are often customers of repo companies.
  
  You could voluntarily allow your car to be repossessed, in which case you need to clean your valuables out of the car. While better than involuntary repossession, it still hurts your credit rating.
  
  

Costs Passed to Owner

• As Andrew Housser of www.nbc12.com reports, "The owner must pay the difference between the amount left on the loan and the profit brought in from the sale, minus costs for cleaning, repossession, transport and the sale."
  
  

Vehicle is Located

• Finding the car can be a problem. Repo people search around the address of the owner. Some also cruise neighborhoods, typing in license plate numbers and matching them to vehicle numbers that banks have reported. The repo person will then call the bank to acquire the job of getting that particular vehicle.
  
  

Vehicle is Taken

• When the car is repossessed, tempers can flare. Repo people often do their work at night in order to avoid conflict. Anyone witnessing her car being repossessed is well advised not to argue. The best course of action is to call the police to verify that the vehicle is being repossessed legally and not being stolen.
  
  

Vehicle Removal Techniques

• Some repo workers tow the vehicle, some acquire key codes from the manufacturer and have keys made, and some pick the lock and jump start the car. Repo workers typically report the car's removal to the local police because people whose cars are repossessed often call the police, thinking that the car was stolen.
  
  

Condition Report Made

• Usually, the condition report is done after the car is removed. The vehicle's condition is noted, along with any of the owner's property that remains in the car.