Literally hundreds of thousands of cars are repossessed each year.

Unbelievable how uniformed the general public is about the possibility of repossession by the bank or finance company if installments are not paid.

Usually the consumer doesn't say that he didn't know about the likelihood (of repossession) or that he was unaware of the terms of his contract, likely the argument is that with or without knowledge of the consequences of default, he and those in the same situation are entitled by the Constitution to a hearing on notice before repossession.

Repossession of your car can happen even if you are only one day late with your payment!

DEBTOR AGREES THAT, IN THE EVENT OF ANY DEFAULT, SECURED PARTY OF ANY SHERIFF OR OTHER OFFICER OF THE LAW MAY TAKE IMMEDIATE POSSESSION OF SAID PROPERTY WITHOUT DEMAND AND WITHOUT PROCESS, INCLUDING IMMEDIATE EQUIPMENT OR ACCESSORIES THERETO; AND FOR THIS PURPOSE SECURED PARTY MAY ENTER UPON THE PREMISES WHERE SUCH PROPERTY MAY BE AND REMOVE THE SAME. IF SUCH PROPERTY SHOULD BE A MOTOR VEHICLE, SECURED PARTY MAY ALSO TAKE POSSESSION OF ANY OTHER PROPERTY THEREIN AT ANY TIME OF REPOSSESSION, AND HOLD THE SAME FOR DEBTOR WITHOUT LIABILITY ON THE PART OF SAID SECURED PARTY.