If my car is in the process of being repossessed, can I legally sell the motor and transmission for cash before they come get it?

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If my car is in the process of being repossessed, can I legally sell the motor and transmission for cash before they come get it?

Asked on April 20, 2012 under Bankruptcy Law, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

No, you cannot. If you do so, you will committing a form of theft--taking property to which you have no right--and therefore could face jail time as well as being sued by the lender or its collections agency. When a car is repossessed, the entire car, including its motor and transmission, become the property of the lien holder (the lender); the only things you can take out are any accoutrements you yourself installed, such as GPS system if it's yours and was not installed by the dealer or manufacturer.


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