Automobile Repossession

Most people finance the purchase of their truck or automobile. In most cases, the consumer enters into a loan agreement which allows the consumer to pay for the vehicle over time and gives the lender a "security interest" in the vehicle. The security interest gives the lender the right to repossess the vehicle if the consumer breaches the agreement with the lender. This provides information from the Erie County Bar Association on your rights regarding the repossession of your vehicle. August 22, 2018.