Repo's Allowed: After 20 day "Right to Cure" letter from lienholder to debtor, repossession allowed without committing a breach of peace. The financing company owns the vehicle until you have completed the terms of the contract that you signed.This page will provide an overview of Virginia's Repossession Laws and what you should know if you've fallen behind on car payments. It is the buyer's responsibility to fill out all applicable sections of the SF97 and present it to the state Department of Motor Vehicles to transfer the title. This page will provide an overview of New Mexico's Repossession Laws and what you should know if you've fallen behind on car payments. Here is how it works ideally for everyone if your car is up for repossession. You default on your payments and the finance company calls us. May a creditor repossess if I catch up all my missed payments? Let ADESA work for you. Whether you're buying or selling, we've got the solution.