What happens if you do not pay your car loan instalments over a period of time? Your car can be repossessed by your lenders as legal owners in your hire purchase agreement.
While you should try to make your payments promptly, know your rights if you are facing car repossession.
In this video, you will learn the legal requirements and procedures for repossession, what to do if you have been served a notice for repossession, as well as how to get your car back if it has been repossessed.
If you have a car loan, it is important that you know the consequences of defaulting on your loan, which includes the possibility of repossession.