Lender repossessions
Banks, credit unions, finance companies and buy-here-pay-here dealers all follow the same rule: after the sale they must account for the proceeds and pay you any surplus.
Repossession · Tow and storage liens
Car repossessed and sold? The lender may owe you.
Most people assume a repossession only leaves them owing money. But when the sale brings in more than the loan and costs, the surplus belongs to you, and the lender is required to account for it.
Nothing up front · No recovery, no fee
How vehicle surpluses happen
Every state has adopted the Uniform Commercial Code, and its section 9-615 sets the order: sale proceeds pay the lender's repossession and sale costs, then the loan. Anything left over must be paid to the borrower.
Surpluses are most common when a vehicle is repossessed late in the loan, when most of the balance is already paid, or when it sells well at auction. Lenders don't always send the money unprompted. We request the sale accounting and follow through.
Sale price$24,500
Loan balance and repo costs$18,900
Surplus for the former owner$5,600
Liens and other claims may be paid from the surplus first, so the amount you receive can be lower.
Title loans
Title lenders often repossess vehicles that are nearly paid off, which is where surpluses come from. Several states add their own rules on top of the UCC.
Tow and storage lien sales
A tow yard or garage can sell a vehicle over unpaid fees. It keeps its bill and allowed costs; in many states the rest goes to the owner or is held for them.
Do I need my loan paperwork?
It helps but isn't required to start. The lender's name and roughly when the vehicle was taken is enough for us to begin.
The lender says I owe a deficiency. Can there still be a surplus?
Sometimes the numbers don't hold up once the sale is reviewed. We look at what the vehicle sold for and the costs charged, and tell you plainly what we find.
What does it cost?
Nothing up front. Our fee is a percentage of what's recovered, agreed in writing before we start. If nothing is recovered, you owe nothing.
The check you're owed.
Tell us what was sold and we'll check the records for you. It's free and there's no obligation.
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