If you default on your car loan, the car loan lender has the right to repossess and sell your car because your car is the collateral for the loan. However, unless the loan papers you signed state otherwise, the creditor does not have a right to keep or sell any other property. The creditor must also use reasonable care to prevent others from causing loss or damage to your property.
That right is not without some limits.
Lender must return loose items. The car loan lender must preserve and return loose items such as clothing, music CDs, tools, jewelry, cell phones, and detachable media players like Ipods.
Lender does not have to uninstall and return fixtures. Usually, however, the creditor does not have to return any fixtures, customizations, or improvements you made to the car. For instance, the creditor does not have to disassemble and return stereos, sounds systems, tire rims or GPS devices that were installed on the car. If tools are required to uninstall your property, you may not be able to get it back. Instead, the creditor can sell the car with those fixtures.
In most states, creditors cannot charge you a fee for storing or returning your personal property. Creditors usually only have a right to charge you storage fees pertaining to the car itself. This means that the repo agent hired by a creditor to take the car also cannot charge you money or a “convenience fee” to let you get your things back before the car is towed away.