Repossession is one of the biggest concerns for title loan borrowers. Understanding how it works — and how to avoid it — helps you borrow with confidence.
It depends on your agreement and the law
The timeline varies with state law and the terms of your loan agreement. A lender may have the right to repossess after a default, and your agreement explains what counts as a default and what notices you’ll receive.
Communication is key
If you’re struggling to make a payment, contact your lender right away. Ignoring the problem makes it worse; reaching out early may open up options to get back on track.
Protecting your car
Make your title loan payment a budget priority, trim nonessential expenses where you can, and consider reputable nonprofit credit counseling if you’re facing hardship.
Repossession is a last resort
Most lenders would much rather work with you so you keep your car while repaying. At Pacific Finance Company, call us at (864) 222-1115 as soon as you think you may miss a payment.