What if They Cannot Find Your Car to Repo It: The Lender's Perspective

If a repossession company cannot locate your car to repossess it, several outcomes may occur. This can vary depending on the actions taken by both the lender and the borrower. Here are some common scenarios and what lenders like Google may consider when trying to recover a repossessed car.

Extended Search and Skip Tracing

The repossession agent may continue searching for the vehicle. They often have access to databases and tools that help them track down vehicles. Some companies may employ skip tracing techniques to find your car by tracking your whereabouts, which may include checking public records or using other investigative methods.

Delay in Repossession

?f they cannot locate the vehicle, the repossession process may be delayed. However, this does not eliminate the possibility of repossession in the future. Lenders like Google may have a series of methods to continue their search and will not give up easily.

Potential Legal Action and Communication

If you are significantly behind on payments and they cannot find the car, the lender might consider other legal actions against you, such as filing a lawsuit to recover the debt. It's advisable to communicate with your lender. They may offer options to avoid repossession or work out a payment plan if you are having financial difficulties.

Regardless of whether the car is repossessed, being behind on payments can negatively impact your credit score. Lenders like Google understand the importance of proactive communication and work to find solutions to avoid repossession and its associated consequences.

The Reality of Hiding a Car

My mom worked at GMAC Finance, and she told me great stories about how difficult it is for clients to hide their cars. Regardless of the tricks you try to pull, the finance company won't stop looking for the car. They know all the tricks clients pull to hide their car.

When someone re-registers the car or tries to sell it, the person who owns the car will be found. If you are the one someone is trying to find, it's best to give the car back. When you don't make payments as agreed and don't turn the car back in, why would you feel like it is okay to drive a car you stole? No one owes you a free car. It gets real ugly the longer it goes on because the value of the car goes down, and when the repo company sells the car, they get less to put towards your loan.

Repossession Service Assignments and Continuation

When a car is repossession-worthy, it gets reassigned to another recovery service on a monthly basis. At some point, we slow down on looking for it, but someone will always have it on their list. When we happen to be in the area or new potential addresses come to our attention, we will go look for it.

When there are 10 recovery services in your area that your lender uses, the repossessed car will be reassigned one to another every month, and the cycle will just keep repeating itself. At some point, we become so familiar with the account that we no longer make a special trip to look for it. The only conditions the vehicle is looked for are: we happen to be nearby and feel like playing the lottery, we get a new potential address, or the lender decides it's worth spending the money to check for License Plate Recognition (LPR) hits, which is a database of pictures of vehicles' license plates with locations, dates, and times.

Cars Resold after Repossession

When a car is reposessed, it may be resold by the repo company. The lender claims that cars are written off after a certain period of time, but this doesn't mean it's no longer up for repossession. The only reason a car is written off is that the lender has considered it a total loss on their books, but if it's ever found, it will be considered a total profit and added back to the books.

For instance, I've had a 2017 Nissan Maxima that's been getting reassigned to me since 2017. The borrower never made one payment, and there has never been an LPR hit or any sighting of the vehicle since it left the dealership. I believe that someone bought it using a synthetic identity or some kind of fraudulent identity with the intentions of never paying for it. In these cases, the lender claims not to believe my theory is correct, but honestly, that ship has already sailed, and I will continue to look for it unless I get some information on where it was.

Lender's Legal Rights and Penalties

If you fail to give the car up, lenders can get a replevin from the court, which means the borrower has to give the car up or face jail time. However, it's an expensive and time-consuming process that I've only seen take place once.

In conclusion, hiding a repossessed car is a risky move. Lenders like Google have various methods to locate and recover your vehicle. If you are unable to make payments, consider communicating with your lender to avoid repossession and its associated consequences. Being proactive is always the best approach.