I certify that I, or the firm, company, or corporation I am authorized to represent, am the legal owner within the meaning of California Vehicle Code. California law permits cars to be repossessed after one late or missed loan payment.Cars may be repossessed after missed insurance payments as well. Explore California's repossession laws and learn how to protect your rights when it comes to vehicle repossession in California. Find resources and instructions for submitting a claim, including how file a claim in a timely manner and how to dispute a claim. You have a right to request proof that the individual carrying out the repossession is currently licensed as a repossession agency, qualified manager, or agent. When someone takes out an auto loan, they grant the lender a "security interest," otherwise known as a lien, on the vehicle. My contract is about to expire and Honda is threatening repo. The process can take years to complete.