Consumer Rights in Auto Repossessions Before a lender can repossess, and take right back your vehicle, you really must have utilized your vehicle as security when it comes to loan and also you will need to have defaulted on your agreement using the loan provider. Often, whenever you borrow funds to purchase automobile, you need to use the automobile as security. Should you, your agreement will state exactly just what takes its standard, permitting the lending company to repossess the vehicle. Your legal rights as well as the legal rights associated with loan provider with regards to standard and repossession are set down in the agreement you finalized as well as in state and law that is federal. Therefore, be sure you read your agreement very very carefully, componenticularly the part that discusses standard.