If you default on your automobile loan,
A)an advance notice to you is required before your car is repossessed.
B)no advance notice is required before repossession.
C)the federal consumer credit laws give you protection.
D)you don't have to pay the full balance due on the loan.
E)the creditor pays the towing and storage costs.

Question

Quizplus · Accepted Answer

No advance notice is required before repossession when you default on your automobile loan. The creditor has the right to repossess the vehicle without going to court or notifying you beforehand. However, the creditor cannot breach the peace during repossession, which means they cannot use physical force or threats to take the car from you.

If You Default on Your Automobile Loan