If you sold a car to someone as a part of an owner financing deal and have not been receiving the payments for the car as the buyer originally agreed, then you might have decided to repossess the car. Instead of doing it yourself, you could be hoping to use a recovery and towing service. These tips will help you if you have never done this before.
1. Hire a Towing Company That Handles Repossessions
Many towing companies specialize in simply picking up people's vehicles when they have been involved in car accidents or when their cars have had mechanical issues. Some towing companies, on the other hand, regularly work with car dealerships and banks to repossess cars. You'll probably want to choose a towing company that falls into the latter category. Repossessions can sometimes be tricky and even dangerous for tow truck drivers, so you'll want to hire a tow truck driver who is up for the challenge. Additionally, there are certain laws that have to be followed when a car is repossessed, and you'll want to pick a towing company that is aware of these laws and that will follow them during the repossession process.
2. Make Sure You Have Your Paperwork
Before someone will go out and repossess a car for you, they may want to see proof of a contract that shows that you have the right to repossess the car. Make sure that you find and produce the contract and any other related information. Then, not only can you show it to someone from the towing company to prove that you have a right to repossess the car, but you will also have the necessary documentation to handle the situation if the buyer tries to take action after the repossession, too.
3. Provide Plenty of Information
You will need to provide plenty of information to the towing company when having a car repossessed so that it will be easier for the tow truck driver to find and pick up the right car. For example, provide the buyer's address, the address for the buyer's place of employment and the addresses for any references that he or she might have used when making the purchase. Providing pictures of the vehicle, the vehicle identification number, the license plate number and any other helpful information that you can provide will also help you make sure that the tow truck driver is able to repossess the car.