Be an Informed Vehicle Owner in Salisbury or Statesville

Be an Informed Vehicle Owner in Salisbury or Statesville

Keep reading to learn about repossession laws in NC

In addition to our towing services, Twisted Cable Towing also provides information about vehicle repossessions in North Carolina. You more than likely formed a security agreement with the seller of your car. This document:

Gave the seller an interest of your vehicle
Outlined the reasons for repossession
Created a way for them to legally repossess your vehicle if you default on your insurance or car payments

Missing even one payment can result in involuntary repossession followed by selling and leasing. If the creditor auctions your vehicle, they must notify you of the details in advance. Once they sell your car, they’ll apply the profit to your original debt to see if you still owe them. They can also contribute it to the cost of repossessing, towing and storing your vehicle.

If you owe a deficiency payment, you can discuss repayment options with your seller. You can also update your agreement to make paying back your debt easier, but you may still be liable for towing and storage fees. They can sue you if you refuse to pay.

Contact us today to learn more about car repossession in Statesville and Salisbury, North Carolina.

Are you entitled to anything if your vehicle gets repossessed?

If anything was left in your vehicle that wasn’t covered in the original agreement, you can get those items back. This includes:

Tools
Clothes
Stereo equipment
Beauty products
Sunglasses

However, you need to contact the seller immediately so you can get your belongings back ASAP. Call Twisted Cable Towing today if you still have concerns about vehicle repossession.