Repossession refers to the process of a creditor reclaiming a vehicle when the owner has failed to make required payments on the vehicle. In Nevada, creditors for vehicle loans and leases have legal authority to repossess the vehicle anytime the consumer fails to make timely payments on the associated loan or lease. However, Nevada law also sets forth certain procedures for repossession, and creditors who fail to comply with these laws will assessed fines by the court.
License and Work Cards
Only companies with a license for repossession can lawfully repossess a car in Nevada. Additionally, all employees working for a repossession company must be at least 18 years of age, have no prior criminal record and have a work card issued by the county sheriff.