Frequently Asked Questions

Repossession FAQs

Here are some of the most common questions that we get asked about repossessions:

What are the steps to do a voluntary repossession?

This is otherwise called a vehicle surrender or voluntary surrender of an asset. The steps are:

  • Prove your ownership of the asset/collateral
  • Accept you cannot meet payments
  • Asset will be collected or surrendered.

How does repossession of a vehicle work?

There are five steps to legally repossessing a vehicle:

  • Ensure that there is proven ownership of the asset.
  • Verify that there are no security interests held over the vehicle.
  • Present the legal repossession warrant to the debtor or person that we are collecting the asset from.
  • Execute upon the repossession warrant and remove the vehicle.
  • If applicable, the asset is released once the debt has been repaid.

What happens when a vehicle is repossessed?

Once we have removed a vehicle, it is held for 15 days to provide the borrower with an opportunity to settle the debt. The asset can be stored on our premises or offsite at an impound yard. If payment is not received in full within two weeks, the lender has the right to sell the asset to recover any unpaid funds.

What will happen to me if my vehicle is repossessed?

With NZ repos, your vehicle won't be repossessed before we have a conversation and go through the other options you have for settling your debt. Although every situation is different, there is often a fair and affordable solution to ensure that you get to keep your vehicle and the lender receives payment.

Can a repo man break and enter in New Zealand?

Repossession agents have the right to enter any premises with a legal repossession warrant, even if it's locked. The property must then be left safe and secured.

Do you have a question we haven’t answered here?

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Insurance, licenses and memberships

Protecting your best interests is our priority. We are licensed by the Ministry of Justice to conduct private investigations and repossessions, and we hold public liability and professional indemnity insurance to protect against the downside.

How can we help you?

If you would like to chat about how we can support you, please call or email us for a confdential discussion about your requirements.

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