Auto repo

Some states would let the borrower be informed about possible repossession of his/her vehicle by the lenders, other states allow the vehicle to be repoed without any prior notice. You would need to confirm with the repo laws of your state whether or not you're allowed to repossess without informing them.

Repossession is a legal action and it would require the legal bodies, namely the police, to be involved in it.

You can check out the following link for more information.

"http://www.lawdog.com/states/va/repo.htm"

Thanks for the info. They[ link]:) did have a small exceprt from the repo laws,inwhich told me where to look in the states codes to find my answers.I was able to contract the buyer last nite,claims they will have the money tonite for me.wait and see????But i do know where the car is and it is in good shape and i do have a witness to that fact.So for all reasons ,i got them right where i need them.Running or hideing would not do much good for them.But thanks for your reply..
Mr.Bill

I hate to sound like a lawyer.... but the fact that you appear as a lienholder on the title is legally irrelevant if your friends did not sign a valid security agreement in tangent with the promise to pay.

Generally when you buy a car and finance it through a lender, you sign a contract. If you've ever read the fine print on one of these contracts.... The contract not only creates an obligation for the buyer to pay, but the fine print also creates a "security agreement" in the collateral being financed (which the contract specifically states the year/make/model/VIN of the collateral being pledged). The contract also spells out conditions which would cause a default (ie non-payment), and default remedies available to the note holder in the event of default (ie repossession).

Now obviously I have not read the "signed agreement" between your friends and you, but if you have not created a security agreement in the vehicle, or spelled out conditions which would cause default, or defined what actions you can take upon default, then you might not be legally entitled to repossess the vehicle. In other words, if your friends did not expressly agree to let you repossess if they didn't pay, then you can't. I know this does not seem fair at all, but written contracts have to be very clear and precise as to what you are allowed to do as a lender -- (put yourself in a bank's shoes, because you are considered a lender. Banks have lots of fine print in their contracts, for very good reason -- they don't want to lose in court.)

I am not familiar with VA repossession laws (ie if you have to give notice first). You might be able to go grab the car and hope that they pay and/or that they do not challenge your repossession in court. However, if the court finds that a valid security agreement did not exist, then you might have to give the car back and pay their court costs if they win.

The question you might want to ask yourself is this: do you really want the car back to try to resell it, or do you just want your money? You could sue them on a breech of contract complaint and get a judgment, and then garnish their wages, which ultimately serves your purpose if you get repaid that way. I personally think it will be easier to get a money judgment than an enjoinder to recover the vehicle, considering security agreements are very technical and you might lose on that ground if your written agreement wasn't very specific. (It's a lot easier to prove that somebody owes you money than it is to prove you are entitled to possession of their property).

Lastly (disclaimer), you might wish to consult an attorney who is versed in VA laws. If you go and take the car and it turns out that your contract was not valid or binding, you could incur liability and damages arising from your action, or possibly even criminal charges if your action constitutes "theft."