Tag: repossessed cars
Repossessed and Unsold Cars: Everything You Should Know
Understanding Repossessed Cars Repossessed cars are vehicles that have been reclaimed by lenders due to the borrower’s failure to meet the terms of their financing agreement. This can occur when a borrower consistently defaults on loan payments, leading lenders to exercise their right to take back the collateral—often the car itself. Legally, repossession is defined…
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