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How can I get a proof of repossession letter?
"My vehicle was repossessed, but I still need to get to work.
A dealer said they'd finance me for a new car, but I need the proof of repossession letter.
Where can I get this letter?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Your original lender should have the letter for you, but you might have to request it in writing. Once you request it, expect around 10 business day to receive it.
Check out the interest rate and other terms on the loan this dealer is offering you. They might tell you it’s a “low-interest rate,” when it’s not. Realistically, you might be looking at 20% interest on this loan, which is too high.
If you still need transportation to get to work, think about borrowing a relative’s car until you can save up enough money to buy a car with cash.”
View full answer
- Gregory R.
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