04 May 2020   /   0 comments

What to Do If The Car Is Repossessed After Title Loan?


What to do if the car is repossessed after the title loan is in default?

Talk through your situation with your title loan lender to see if there are ways to work out the rest of your payments without losing your car.

Or you can refinance your loan with a new lender through a title loan buyout.

What to do if the car is repossessed after the title loan?

If you are currently searching google on what to do if the car is repossessed after the title loan, then you are probably a bit worried at the moment.

This might be an extremely stressful time for you and our top priority in this resource page is to help you feel more at ease.

At TFC Title Loans, we like to give hope in tough situations like those of defaulting or repossession.

We have seen thousands of customers through their title loans successfully over the past 25 years. But, of course, we have had clients who struggled; struggled even to the point of default or repossession.


Here To Help

We have learned extensively through those experiences so we can make the occurrences as few and far between as possible.

Additionally, we have used that experience to imagine new ways to reverse the effects of defaulting and repossession.

We focus on keeping an open line of communication with our clients and strongly believe that it is never too late to turn a bad situation around.

Here, at TFC Title Loans, we believe we have a responsibility to all of our clients. We will help you get a title loan that is close for you to get you money.

A responsibility that demands we assist them throughout the entire lending process by giving them strategies, helpful tools, and alternative options if they are struggling to pay off their loan or have already defaulted.

In this informational how it work page, we will explicate all the options and/or steps you must take when you want to know what to do if the car is repossessed after the title loan.

Our Experience

Ever since we first opened our doors in 1994, we have stuck by our principles of friendly customer service and lender transparency.

This company culture has drawn thousands of customers to obtain title loans from us or seek out our assistance when they need help.

Consumer education is the top priority for us which is why we long to help in any way we can as you are struggling through the loan.

Here is some more information on repossessions.



A Repossession

After a default has occurred, the borrower may still be able to cover what they owe the lender if they can get enough money in time.

The auction price, can on occasion, yield more or fewer funds than those demanded by the loan balance.

If the auction price is less than the loan balance, the borrower will need to make up the difference.

On the other hand, if the auction price is higher than the loan balance the lender will be required to return those additional funds to the borrower whose car was repossessed.


Never Too Late

A mobile notary could meet the borrower at the tow yard with the contract and check so the borrower can get their vehicle back.

The borrower could even pay it back early and have the car back sooner.


Repossession as Last Resort

At TFC Title Loans, we work very hard to ensure that repossession is the absolute last resort if you are wondering what to do if the car is repossessed after the title loan.

We emphasize an open line of communication with our customers to create an atmosphere of trust so they can come to us when they are struggling.

That way we can prevent any problems from growing into real issues.

Now that you have a better hold on what to do if the car is repossessed after the title loan, we hope you feel more at ease.

If you have any remaining questions regarding the matter, then please give us a call today.

We have understanding customer representatives who can talk you through this trying time.

However, if you do not currently have a title loan or would be interested in refinancing your current title loan with TFC Title Loans, then fill our simple and quick online application today.

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