In case you fear that the recovery agent will repossess your vehicle as you have failed to keep up with the payments on it, here are a few tip:
You will already know how far behind you are with your payments so:

a. Try really hard and obtain a refinancing loan and either catch up with your overdue payments, or pay whatever is due and then attempt renegotiate lower monthly payments.
b. Also speak to the loan company and renegotiate a lower interest rate, because if that is too high then that is what is killing you financially.
c.Alter the date of your monthly payment to the end of the month, so that the car payment leaves your account first. You can manage with anything else later on.
d. If you are in dire financial straits, ask for a deferment of payments or an extension so that you can find some money to put off the repossession.
e. Talk to the bank or loan company about any trouble that you are having and see what they can suggest, and follow their advice. They are not in the business of wanting to repossess your car, but if they have to they will repossess to resell and recover any money owed to them by you.

Basically to recap, make sure that you get on well with your bank or finance company. There are some car loan companies that will install a GPS as a condition of the loan. It’s a device that will track all of the car’s movements, and can be used to prevent you from using the car in case of any defaults.

The device could be in any of the following places: the dashboard, headliner, back seat,and other place in the car.You may well have to approach the dealer whom sold you the car to get it disconnected.

This will also happen before the recovery agent appears to repossess repo cars, and leave you to use public transport. When it comes to the GPS device there are usually two wires, one is in the ignition and the other is usually in the starter. The whole thing is connected to the fuse panel and that is how this tricky little gadget is powered. Without this power connection it will not work.

According to the repo cars guide there are some auto-dealers that even connect it to the battery. Whatever you do avoid the temptation of wanting  to disconnect the device because that would be negate the terms and conditions of the loan finance agreement.

If you are on very bad terms with your loan company, depending on how difficult a customer you are, you could inadvertently end up having the car repossessed. Then you are the one to blame for this happening.

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