When you are in default of a car loan, the creditor’s next move is to repossess your car. As a car owner, you may want to think of ways to hide your car from being repossessed.
Keeping in touch with the creditors on the status of your car loan is essential. Frequent communication will help you stay informed on the loan repayment.
Hiding the car from the repossession man may be a temporary solution to the problem and we don’t recommend doing it. This may even worsen the situation because the creditors may increase the bank charges.
Ways Of Hiding Your Car From Repossession
1. Keep It Locked In A Garage
A Repo man cannot repossess your car if they must break into your garage and enter. Locking it behind in a garage is one of the best ways to avoid repossession. If you leave your car outside, it can be repossessed at any time.
The safest way to hide your car from the Repo man Is by locking it up in a private garage.
2. Sell The Car
If your loan is in default and your car is at the risk of being repossessed, you can decide to sell it. To hide your car from the Repo Man, you can trade-in your vehicle and pay off the outstanding loan. By doing so, your car will not be repossessed.
You will save yourself more trouble with the creditors. You will also avoid extra charges that come from towing the car as well as the storage charges.
Whenever you find yourself in a financial crisis, you can sell off the car. If you had put your car as the collateral for the loan, the wisest decision is to trade it off and repay your loan. You will keep the creditors away from taking your car.
You are at an advantage if you sell the car yourself. If the car is repossessed and sold by the auctioneers, it may be sold at a loss. The creditors want to recover loan money, and so they might sell it below its valued price.
3. Exchange Your Car
This method might work if you have a friend who lives in a different state. You can opt to exchange your car with your friend to buy time and pay your loan. This method is not a long-term solution because of technology.
The car can be tracked if the loan is still in default after a long time. If you decide to go this direction, ensure to repay your loan in the shortest time possible.
4. Remove The Tracking Device From The Car
Due to technology, cars have tracking devices that can be used by the Repo man to get your vehicle. One way you can use to hide your car repossession is to take off the tracking device. Locate where the car tracker is installed and take it off.
After doing this, park your car in the backyard for a period. This method will help you organize your finances and possibly clear the loan with the creditors. However, this may be a temporary solution. Do not rely on it for the long term.
5. Hide Your Car In A Chained Gate/Compound
If your car is not exposed to the creditors, it won’t be repossessed. One of the ways you can hide the car is by parking it in a chained gate and locking up the gate, or the compound. The Repo man cannot get past the locked gate and get your car.
Use public transport to work as you leave your car behind and lock up the gate. This method can work for a short period.
6. Lend The Car To Your Neighbor.
This is another way you can hide your car from repossession. Give your Neighbor the car to use or hide it for you in their backyard. Since you will not be directly driving the car, you might be able to keep it away from the Repo Man for some time.
Remember, this method is just a temporary solution and not a guarantee of the car’s safety. You may instruct the neighbor to hide it for you in his / her backyard. This may give you some time to get the finances that you need and repay the loan.
What Is The Best Method Of Hiding You Are From Repossession?
All the methods discussed above might in one way or the other help in hiding a car from repossession. The best way to avoid car repossession is by clearing up your loan in time.
Whenever you have a loan, paying it off is the best option. Keeping in touch with your creditor and knowing your loan repayment status is a crucial principle to follow.
The above methods are great options in helping you hide your car from the Repo man. However, these are just temporary solutions to help you get organized with your finances. Please do not rely solely on the above methods because it is illegal to hide a car from repossession in some countries.
You may need to understand the policies surrounding a car repossession in your country before deciding to hide your car. As you practice the ways discussed above, it is paramount to work out a plan that will help you clear up your loan in time.
Partial payments with consistency will help you keep your car away from the creditors.
To make it clear, we discourage anyone from hiding their car from the Repo man. This is not the best way to handle repossession. If you decided to hide your car, do it at your own risk.
With comprehensive experience in writing exceptional quality articles and blogs about cars and related stuff, Daniel is one of the finest bloggers and a hardcore car lover we have. He is an ASE certified technician with an across-the-board experience of 10 years in the industry. He could not help tinkering with anything he got his hands on from a young age, which led to his remarkable career in the automotive repair industry.
When he is not under any hood, you can find him on the water or in the woods to pursue his passion for hunting and fishing. He has been writing for multiple sectors and is a regular contributor to several publications.
He currently owns a Nissan 300ZX TT and a Pearl Yellow but plans to upgrade it to 550 HP. His favorites include the Koenigsegg CCX and Lamborghini Diablo 6.0 VT, but for him, the Ferrari 360 Spider is one of the sexiest cars that exists to date.
Being an avid world traveler, he has spent most of his time analyzing the automotive markets, latest technology, and local favorites to enhance his knowledge base. He is currently living in North Caroline, where it’s all about food and coffee and, of course, cars.