When you finance or lease a car, truck or other vehicle, your creditor or lessor holds important rights on the vehicle until you’ve made the last loan payment or fully paid off your leasing obligation. These rights are established by the signed contract and by state law. For example, if your payments are late or you default on your contract in any way, your creditor or lessor may have the right to repossess your car.
Respective rights of buyer, seller, etc., following repossession of motor vehicle sold under a retail installment contract are covered under Georgia Law, specifically Code Section § 10-1-36 of the Official Code of Georgia.
Repossession of motor vehicles pursuant to a title pawn transaction are covered under Georgia Law, specifically Code Sections § 44-12-131 and 44-12-138 of the Official Code of Georgia.
You may access the above Code Sections, as well as any other Georgia law through LexisNexis from the Georgia General Assembly's website. Go to the Official Code of Georgia (OCGA). HINT: Once you enter the OCGA through LexisNexis, click on the TOC link at the top left corner of the page to the view the Table of Contents to easily locate a Title, Article, or Chapter within the OCGA or enter the particular Code Section you would like to search for.
- Vehicle Repossession - Facts for Consumers (FTC)
- Obtaining a Georgia Title for a Repossessed Vehicle (Department of Revenue)