Dealing with vehicle repossession in Los Angeles is especially tough if you already have bad credit. A repossession in a place as sprawling as The City of Angels poses its own unique challenges. Fortunately, if your car's been hauled off because you couldn't make your payments, you have a number of options available to get it back.

3 Ways to Regain Your Car after Repossession

The laws surrounding vehicle repossession vary by state, and many don't offer their residents as many options to get their cars back after repossession as California.

Typically, you can get your vehicle back in one of three ways:

  1. Dealing with Vehicle Repossession in Los AngelesRedemption – This option is the most widely available since all states offer some form of redemption. Unfortunately, it's usually the most difficult to make happen, especially if you're already having trouble making payments. This is because redemption requires you to pay the entire loan balance at once, plus any repossession fees and other charges, in order to get your car back.
  2. Reinstatement – This option isn't available in all states, so the only way to reinstate your loan if it isn't offered is to have the right to reinstate built into your loan contract. Angelenos don't have to worry, though, as California offers the right to reinstatement. To reinstate your loan and get your vehicle back, you must get current on your loan and pay any additional late fees and repossession charges in one lump sum, and then you can continue with it like normal.
  3. Buy it back – If your car goes to auction, the lender is required to let you know where and when it's taking place, and you're allowed to bid on the vehicle. However, whether or not you win the bid at auction, you're still responsible for paying the lender the deficiency balance if the car sells for less than the loan balance including any additional charges.

Keep in mind that all these options come with certain time limits, and are subject to the laws of your state. Lenders are generally required to send you written notice of your rights and responsibilities after a vehicle repossession, and both redemption and reinstatement typically must occur within 10 to 15 days following the seizure.

If You're Unable to Get Your Car Back

When your car is repossessed, it takes a toll on your credit. Your credit score drops, and the repossession stays on your credit reports for up to seven years. Over time, the impact lessens, and you should be able to get another auto loan. Typically, in order to be approved for a loan after a repo, you need to wait until at least a year has passed.

Since your credit score is reduced by the repossession, in addition to waiting, your best bet for a car loan is through a subprime lender. These lenders specialize in working with people that have bad credit, no credit, and challenging credit situations such as repossession.

Subprime lenders work exclusively through special finance dealerships, but it's not always easy to spot a special finance dealer in LA. So, what are you supposed to do? Turn to Auto Credit Express, of course!

When You're Ready to Finance Again

When you're ready to get an auto loan after repossession, we're ready to help. Auto Credit Express works with a network of special finance dealerships all across Los Angeles, and the rest of the nation, that are ready to help you find the financing you need.

The process is quick and easy to get started. Simply fill out our car loan request form, and we'll get to work matching you with a local dealer that has the lending resources you're looking for!