Why Do Car Repossessors Prefer to Use the Car Key to Towing the Car?

Car repossessors prefer to use keys over towing because using keys allows for a faster repossession. Quickly driving the car away from the scene also means that the debtor is less likely to have time to respond to the repossession.

Benefits

Having a key allows a repossessor to get into a vehicle without incident. The door lock and ignition can be operated normally, and damage to the repossessed vehicle less likely.

Types

A repossessor may have an exact copy of your key, or he may use a modified key or "shave key" that still allows the ignition to operate.

Effects

By driving the vehicle to a storage yard instead of towing it, the repossession company can avoid possible damage to the car.

Misconceptions

Finance companies do not keep a copy of your car keys on file. Although some lenders track key codes, a repossessor will need a locksmith to get a key made.

Warning

Facing a vehicle repossession is a difficult situation. If the car is up for repossession, your credit score already been affected. Do not put up a fight with a repossessor, no matter how they plan to move your car.

References

• PI Mall: The Auto Repossession Business