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. Repossession occurs when your lender seizes this asset because you defaulted on what you owe.Cars are the most commonly repossessed assets. Complete this form and bring it with the license plates, if any, to any Motor Vehicles office. Many states allow repossessors to enter private property to complete a repossession, so long as the taking is without breaching the peace. To schedule an appointment call 803-326-1860. View current repossessions, request more information and submit offers. You'll have to figure out how you can amend your budget so you are not living above your means, which is usually the cause of a repossession. Their cars allow them to get to work or to school, and a car provides a sense of freedom. How does repossession impact your credit?