Can My Car Lender Change How Much They Want to Get My Car Back From a Repossession?


Dear Steve,

I was late on payments made one for $600 they repo my car I called they called me back said if I paid 1100 I could get my car back that was Saturday couldn’t make it up there when I called Monday they said they couldn’t do that it had to be the full payment of 4600.

My question is how can the manager say I could bring 1100 and get current and get my car back and then one day later say that the regional manager stepped in on my case and said had to be full payment can they do that.



Dear Fred,

You were in a tough spot. Just because an employee utters something does not mean it is either true or accurate. The only way to enforce such a statement would be if it was in writing on company letterhead, you had a receipt for the payment made under the offer by the employee that said your account was now current, or you have some evidence that the company violated the terms of the lending agreement and broke the law.

Even with a written statement on company letterhead I’ve seen companies not back that and say the employee did not have the authority to extend a specific offer.

The best thing to do in this situation would be to pull out your copy of the lending agreement and read the terms to see what the process is for curing a default.


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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