Usually the agreement will permit the finance company or bank to take the vehicle by self-help repossession without any further definition. The Uniform Commercial Code also permits a secured party to take a piece of collateral or the vehicle by self-help repossession. Again, self-help repossession is not specifically defined; however, it must be deemed obvious in light of the relationship between the parties.
Self-help repossession is where the finance company ‘helps themselves’ to take the vehicle back. One common question is whether or not there needs to be a notice to the owner of the vehicle prior to the ‘self-help repossession.’ There is no requirement under the Uniform Commercial Code, and there is usually no requirement under the written agreement between the parties. However, if the written agreement between the parties indicates there must be a type of pre-repossession notice, they must conduct same. If there are various calls between the parties with regard to late payments, this is not deemed and cannot be deemed a requirement, but rather an attempt by the finance company to have the lessee or driver of the vehicle make payments.