Reviewed by Shannon Martin, Licensed Insurance Agent.
A repossession is definitely stressful, but there are a couple of things you can do to get your car back:
Usually, your bank will let you get your car back if you pay off your loan in full and pay the repossession costs. You’ll need to do that before your car sells at an auction, though.
You can also discuss the possibility of reinstating your loan with new terms if your bank is willing to do so. While the repossession will still show up on your credit report, you might be able to get your car back that way.
If you’re struggling to make your monthly bills, one place to cut costs is your
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.