Legal Question in Business Law in California

Re: Auto Repossesion

It really depends upon what your loan documents say. However, as a general rule, a lender can repossess a vehicle if any payment is not made on the date it is due. Lenders rarely do this, however, because they don't want the vehicle back, they want their money, and it is more cost effective for them to simply send out a reminder that the payment is due.