Learn more about New York's repossession laws, what New York repo agents can and cannot do, and what happens after the car is taken away. Complete this form and bring it with the license plates, if any, to any Motor Vehicles office.If you don't make your car payments on time, your lender might have the right to take your car without going to court or telling you first. A repossession is a last resort option they will use if it is clear you have no intention to pay for your obligation. Obtaining a repossession title involves completing specific paperwork to transfer ownership from the previous owner to the lienholder. Dealerships do not repossess cars. They have been paid in full for the car you purchased. The document is a notice of rescission from an individual (Your Name) to a dealership (Dealership Name). The document is a notice of rescission from an individual (Your Name) to a dealership (Dealership Name). Most reputable dealers facilitate financial agreements between you and a lending institution.