A bank can repossess your vehicle when you’ve stopped making the monthly payments agreed upon in your financing arrangement. Most banks will begin the repossession process after you’ve stopped making payments for 60-90 days. They may attempt to contact you by standard mail, certified mail, or telephone. Being unable to meet your monthly payments can be a stressful and an embarrassing experience. Remember that there are options available to you if you’re having trouble. Contact Autorefin Vehicle and Asset Finance (AVF) with any questions about an existing loan you’re carrying, and we’ll help you work out a solution that fits your budget. Sometimes it just takes a couple of months to get back on your feet.
