{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-2217.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-2217.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-2217.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-2217.html"}],"law_id":72369,"edition_id":1,"section_id":72369,"structure_id":13458,"section_number":"6.2-2217","catch_line":"Limited recourse; repossession and sale of motor vehicle","history":"2010, c. 477, \u00a7 6.1-497; 2020, cc. 1215, 1258.","full_text":"A\n\nExcept as otherwise provided in subsection E, a licensee taking a security interest in a motor vehicle pursuant to this chapter shall be limited, upon default by the borrower, to seeking repossession of, preparing for sale, and selling the motor vehicle in accordance with Title 8.9A. Unless (i) the licensee, at least 10 days prior to repossessing the motor vehicle securing a title loan, has sent to the borrower, by first class mail, written notice advising the borrower that his title loan is in default and stating that the motor vehicle may be repossessed unless the principal and interest owed under the loan agreement are paid and (ii) the borrower does not pay such principal and interest prior to the date the motor vehicle is repossessed by or at the direction of the licensee, then the licensee shall not collect or charge the costs of repossessing and selling the motor vehicle described in subdivision A 5 of § 6.2-2216. A licensee shall not repossess a motor vehicle securing a title loan prior to the date specified in the notice. Except as otherwise provided in subsection E, a licensee shall not seek or obtain a personal money judgment against a borrower for any amount owed under a loan agreement or any deficiency resulting after the sale of a motor vehicle.B\n\nAt least 15 days prior to the sale of a motor vehicle, a licensee shall (i) notify the borrower of the date and time after which the motor vehicle is subject to sale and (ii) provide the borrower with a written accounting of the redemption amount, which shall be the sum of the principal amount due to the licensee, interest accrued through the date the licensee took possession of the motor vehicle, and any reasonable expenses incurred to date by the licensee in taking possession of, preparing for sale, and selling the motor vehicle. At any time prior to such sale, the licensee shall permit the borrower to redeem the motor vehicle by tendering cash or other good funds instrument for the principal amount due to the licensee, interest accrued through the date the licensee took possession, and any allowable fees or costs of repossessing and selling the motor vehicle described in subdivision A 5 of § 6.2-2216. Borrowers shall be permitted to recover personal items from repossessed motor vehicles promptly and at no cost.C\n\nWithin 10 days of the licensee’s receipt of funds from the sale of a motor vehicle, the borrower is entitled to receive all proceeds from such sale of the motor vehicle in excess of the redemption amount included in the notice described in subsection B, less any additional allowable fees or costs of repossessing and selling the motor vehicle described in subdivision A 5 of § 6.2-2216 that were not included in the redemption amount.D\n\nExcept in the case of fraud or a voluntary surrender of the motor vehicle, a licensee shall not take possession of a motor vehicle until such time as a borrower is in default under the loan agreement. Except as otherwise provided in this chapter, the repossession and sale of a motor vehicle shall be subject to the provisions of Title 8.9A.E\n\nNotwithstanding any provision to the contrary, but subject to § 6.2-2216, upon default by a borrower, a licensee may seek a personal money judgment against the borrower for any amounts owed under a loan agreement if the borrower impairs the licensee’s security interest by (i) intentionally damaging or destroying the motor vehicle, (ii) intentionally concealing the motor vehicle, (iii) giving the licensee a lien in a motor vehicle that is already encumbered by an undisclosed prior lien, or (iv) subsequently giving a security interest in, or selling, a motor vehicle that secures a title loan to a third party, without the licensee’s written consent.","order_by":null,"text":{"0":{"id":260692,"text":"Except as otherwise provided in subsection E, a licensee taking a security interest in a motor vehicle pursuant to this chapter shall be limited, upon default by the borrower, to seeking repossession of, preparing for sale, and selling the motor vehicle in accordance with Title 8.9A. Unless (i) the licensee, at least 10 days prior to repossessing the motor vehicle securing a title loan, has sent to the borrower, by first class mail, written notice advising the borrower that his title loan is in default and stating that the motor vehicle may be repossessed unless the principal and interest owed under the loan agreement are paid and (ii) the borrower does not pay such principal and interest prior to the date the motor vehicle is repossessed by or at the direction of the licensee, then the licensee shall not collect or charge the costs of repossessing and selling the motor vehicle described in subdivision A 5 of § 6.2-2216. A licensee shall not repossess a motor vehicle securing a title loan prior to the date specified in the notice. Except as otherwise provided in subsection E, a licensee shall not seek or obtain a personal money judgment against a borrower for any amount owed under a loan agreement or any deficiency resulting after the sale of a motor vehicle.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":260693,"text":"At least 15 days prior to the sale of a motor vehicle, a licensee shall (i) notify the borrower of the date and time after which the motor vehicle is subject to sale and (ii) provide the borrower with a written accounting of the redemption amount, which shall be the sum of the principal amount due to the licensee, interest accrued through the date the licensee took possession of the motor vehicle, and any reasonable expenses incurred to date by the licensee in taking possession of, preparing for sale, and selling the motor vehicle. At any time prior to such sale, the licensee shall permit the borrower to redeem the motor vehicle by tendering cash or other good funds instrument for the principal amount due to the licensee, interest accrued through the date the licensee took possession, and any allowable fees or costs of repossessing and selling the motor vehicle described in subdivision A 5 of § 6.2-2216. Borrowers shall be permitted to recover personal items from repossessed motor vehicles promptly and at no cost.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":260694,"text":"Within 10 days of the licensee’s receipt of funds from the sale of a motor vehicle, the borrower is entitled to receive all proceeds from such sale of the motor vehicle in excess of the redemption amount included in the notice described in subsection B, less any additional allowable fees or costs of repossessing and selling the motor vehicle described in subdivision A 5 of § 6.2-2216 that were not included in the redemption amount.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":260695,"text":"Except in the case of fraud or a voluntary surrender of the motor vehicle, a licensee shall not take possession of a motor vehicle until such time as a borrower is in default under the loan agreement. Except as otherwise provided in this chapter, the repossession and sale of a motor vehicle shall be subject to the provisions of Title 8.9A.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":260696,"text":"Notwithstanding any provision to the contrary, but subject to § 6.2-2216, upon default by a borrower, a licensee may seek a personal money judgment against the borrower for any amounts owed under a loan agreement if the borrower impairs the licensee’s security interest by (i) intentionally damaging or destroying the motor vehicle, (ii) intentionally concealing the motor vehicle, (iii) giving the licensee a lien in a motor vehicle that is already encumbered by an undisclosed prior lien, or (iv) subsequently giving a security interest in, or selling, a motor vehicle that secures a title loan to a third party, without the licensee’s written consent.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":13458,"edition_id":1,"name":"Motor Vehicle Title Loans","identifier":"22","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:44:55","date_modified":"2026-06-26 03:44:55","permalink":{"id":266887,"object_type":"structure","relational_id":13458,"identifier":"22","token":"6.2\/III\/22","url":"\/6.2\/III\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13060,"edition_id":1,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":265721,"object_type":"structure","relational_id":13060,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":76041,"structure_id":13458,"section_number":"6.2-2200","catch_line":"Definitions","url":"\/6.2-2200\/","token":"6.2\/III\/22\/6.2-2200","metadata":false},{"id":86220,"structure_id":13458,"section_number":"6.2-2201","catch_line":"License required","url":"\/6.2-2201\/","token":"6.2\/III\/22\/6.2-2201","metadata":false},{"id":86345,"structure_id":13458,"section_number":"6.2-2202","catch_line":"Scope of chapter","url":"\/6.2-2202\/","token":"6.2\/III\/22\/6.2-2202","metadata":false},{"id":67400,"structure_id":13458,"section_number":"6.2-2203","catch_line":"Application for license; form; content; fee","url":"\/6.2-2203\/","token":"6.2\/III\/22\/6.2-2203","metadata":false},{"id":73780,"structure_id":13458,"section_number":"6.2-2204","catch_line":"Bond required","url":"\/6.2-2204\/","token":"6.2\/III\/22\/6.2-2204","metadata":false},{"id":74026,"structure_id":13458,"section_number":"6.2-2205","catch_line":"Investigation of applications","url":"\/6.2-2205\/","token":"6.2\/III\/22\/6.2-2205","metadata":false},{"id":73822,"structure_id":13458,"section_number":"6.2-2206","catch_line":"Qualifications","url":"\/6.2-2206\/","token":"6.2\/III\/22\/6.2-2206","metadata":false},{"id":68337,"structure_id":13458,"section_number":"6.2-2207","catch_line":"Licenses; places of business; changes","url":"\/6.2-2207\/","token":"6.2\/III\/22\/6.2-2207","metadata":false},{"id":83906,"structure_id":13458,"section_number":"6.2-2208","catch_line":"Acquisition of control; application","url":"\/6.2-2208\/","token":"6.2\/III\/22\/6.2-2208","metadata":false},{"id":78996,"structure_id":13458,"section_number":"6.2-2209","catch_line":"Retention of books, accounts, and records","url":"\/6.2-2209\/","token":"6.2\/III\/22\/6.2-2209","metadata":false},{"id":56346,"structure_id":13458,"section_number":"6.2-2210","catch_line":"Annual report","url":"\/6.2-2210\/","token":"6.2\/III\/22\/6.2-2210","metadata":false},{"id":84839,"structure_id":13458,"section_number":"6.2-2211","catch_line":"Other reporting requirements","url":"\/6.2-2211\/","token":"6.2\/III\/22\/6.2-2211","metadata":false},{"id":68990,"structure_id":13458,"section_number":"6.2-2212","catch_line":"Investigations; examinations","url":"\/6.2-2212\/","token":"6.2\/III\/22\/6.2-2212","metadata":false},{"id":69489,"structure_id":13458,"section_number":"6.2-2213","catch_line":"Annual fees","url":"\/6.2-2213\/","token":"6.2\/III\/22\/6.2-2213","metadata":false},{"id":67173,"structure_id":13458,"section_number":"6.2-2214","catch_line":"Regulations","url":"\/6.2-2214\/","token":"6.2\/III\/22\/6.2-2214","metadata":false},{"id":67183,"structure_id":13458,"section_number":"6.2-2215","catch_line":"Required and prohibited business methods","url":"\/6.2-2215\/","token":"6.2\/III\/22\/6.2-2215","metadata":false},{"id":54418,"structure_id":13458,"section_number":"6.2-2215.1","catch_line":"Loan terms and conditions","url":"\/6.2-2215.1\/","token":"6.2\/III\/22\/6.2-2215.1","metadata":false},{"id":86825,"structure_id":13458,"section_number":"6.2-2216","catch_line":"Authorized fees and charges","url":"\/6.2-2216\/","token":"6.2\/III\/22\/6.2-2216","metadata":false},{"id":83368,"structure_id":13458,"section_number":"6.2-2216.1","catch_line":"Inflation adjustment of maximum monthly maintenance fee","url":"\/6.2-2216.1\/","token":"6.2\/III\/22\/6.2-2216.1","metadata":false},{"id":58242,"structure_id":13458,"section_number":"6.2-2216.2","catch_line":"Refinancing of motor vehicle title loan","url":"\/6.2-2216.2\/","token":"6.2\/III\/22\/6.2-2216.2","metadata":false},{"id":74445,"structure_id":13458,"section_number":"6.2-2216.3","catch_line":"Statement of balance due; repayment and refunds","url":"\/6.2-2216.3\/","token":"6.2\/III\/22\/6.2-2216.3","metadata":false},{"id":74396,"structure_id":13458,"section_number":"6.2-2216.4","catch_line":"Restriction on certain fees and charges","url":"\/6.2-2216.4\/","token":"6.2\/III\/22\/6.2-2216.4","metadata":false},{"id":79602,"structure_id":13458,"section_number":"6.2-2216.5","catch_line":"Verification of borrower's income","url":"\/6.2-2216.5\/","token":"6.2\/III\/22\/6.2-2216.5","metadata":false},{"id":72369,"structure_id":13458,"section_number":"6.2-2217","catch_line":"Limited recourse; repossession and sale of motor vehicle","url":"\/6.2-2217\/","token":"6.2\/III\/22\/6.2-2217","metadata":false},{"id":65091,"structure_id":13458,"section_number":"6.2-2218","catch_line":"Advertising","url":"\/6.2-2218\/","token":"6.2\/III\/22\/6.2-2218","metadata":false},{"id":54679,"structure_id":13458,"section_number":"6.2-2218.1","catch_line":"Other business","url":"\/6.2-2218.1\/","token":"6.2\/III\/22\/6.2-2218.1","metadata":false},{"id":58040,"structure_id":13458,"section_number":"6.2-2219","catch_line":"Suspension or revocation of license","url":"\/6.2-2219\/","token":"6.2\/III\/22\/6.2-2219","metadata":false},{"id":87177,"structure_id":13458,"section_number":"6.2-2220","catch_line":"Cease and desist orders","url":"\/6.2-2220\/","token":"6.2\/III\/22\/6.2-2220","metadata":false},{"id":83357,"structure_id":13458,"section_number":"6.2-2221","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-2221\/","token":"6.2\/III\/22\/6.2-2221","metadata":false},{"id":63184,"structure_id":13458,"section_number":"6.2-2222","catch_line":"Fines for violations","url":"\/6.2-2222\/","token":"6.2\/III\/22\/6.2-2222","metadata":false},{"id":79604,"structure_id":13458,"section_number":"6.2-2223","catch_line":"Criminal penalty","url":"\/6.2-2223\/","token":"6.2\/III\/22\/6.2-2223","metadata":false},{"id":77105,"structure_id":13458,"section_number":"6.2-2224","catch_line":"Validity of noncompliant loan agreement; private right of action","url":"\/6.2-2224\/","token":"6.2\/III\/22\/6.2-2224","metadata":false},{"id":82178,"structure_id":13458,"section_number":"6.2-2225","catch_line":"Application of chapter to Internet loans","url":"\/6.2-2225\/","token":"6.2\/III\/22\/6.2-2225","metadata":false},{"id":82392,"structure_id":13458,"section_number":"6.2-2226","catch_line":"Authority of Attorney General; referral by Commission to Attorney General","url":"\/6.2-2226\/","token":"6.2\/III\/22\/6.2-2226","metadata":false},{"id":64595,"structure_id":13458,"section_number":"6.2-2227","catch_line":"Violation of the Virginia Consumer Protection Act","url":"\/6.2-2227\/","token":"6.2\/III\/22\/6.2-2227","metadata":false}],"previous_section":{"id":79602,"structure_id":13458,"section_number":"6.2-2216.5","catch_line":"Verification of borrower's income","url":"\/6.2-2216.5\/","token":"6.2\/III\/22\/6.2-2216.5","metadata":false},"next_section":{"id":65091,"structure_id":13458,"section_number":"6.2-2218","catch_line":"Advertising","url":"\/6.2-2218\/","token":"6.2\/III\/22\/6.2-2218","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-2217\/","history_text":"

This law was first created in 2010. The record of its establishment is cataloged in chapter 477<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2020, chapters 1215<\/a> and 1258<\/a>.<\/p>","references":[{"id":56346,"section_number":"6.2-2210","catch_line":"Annual report","order_by":null,"url":"\/6.2-2210\/"},{"id":86825,"section_number":"6.2-2216","catch_line":"Authorized fees and charges","order_by":null,"url":"\/6.2-2216\/"}],"refers_to":[{"id":86825,"section_number":"6.2-2216","catch_line":"Authorized fees and charges","order_by":null,"url":"\/6.2-2216\/"}],"permalink":{"id":266981,"object_type":"law","relational_id":72369,"identifier":"6.2-2217","token":"6.2\/III\/22\/6.2-2217","url":"\/6.2-2217\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-2217\/","token":"6.2\/III\/22\/6.2-2217","dublin_core":{"Title":"Limited recourse; repossession and sale of motor vehicle","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-2217","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Except as otherwise provided in subsection E, a licensee<\/span> taking a security interest<\/span> in a motor vehicle<\/span> pursuant to this chapter shall be limited, upon default<\/span> by the borrower, to seeking repossession of, preparing for sale, and selling the motor vehicle<\/span> in accordance with Title 8.9A. Unless (i) the licensee<\/span>, at least 10 days prior to repossessing the motor vehicle<\/span> securing a title loan<\/span>, has sent to the borrower, by first class mail, written notice advising the borrower that his title loan<\/span> is in default<\/span> and stating that the motor vehicle<\/span> may be repossessed unless the principal<\/span> and interest<\/span> owed under the loan agreement<\/span> are paid and (ii) the borrower does not pay such principal<\/span> and interest<\/span> prior to the date the motor vehicle<\/span> is repossessed by or at the direction of the licensee<\/span>, then the licensee<\/span> shall not collect or charge the costs of repossessing and selling the motor vehicle<\/span> described in subdivision A 5 of § 6.2-2216<\/a>. A licensee<\/span> shall not repossess a motor vehicle<\/span> securing a title loan<\/span> prior to the date specified in the notice. Except as otherwise provided in subsection E, a licensee<\/span> shall not seek or obtain a personal money judgment<\/span> against a borrower for any amount owed under a loan agreement<\/span> or any deficiency resulting after the sale of a motor vehicle<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> At least 15 days prior to the sale of a motor vehicle<\/span>, a licensee<\/span> shall (i) notify the borrower of the date and time after which the motor vehicle<\/span> is subject to sale and (ii) provide the borrower with a written accounting of the redemption<\/span> amount, which shall be the sum of the principal<\/span> amount due to the licensee<\/span>, interest<\/span> accrued through the date the licensee<\/span> took possession<\/span> of the motor vehicle<\/span>, and any reasonable expenses incurred to date by the licensee<\/span> in taking possession<\/span> of, preparing for sale, and selling the motor vehicle<\/span>. At any time prior to such sale, the licensee<\/span> shall permit the borrower to redeem the motor vehicle<\/span> by tendering cash or other good funds instrument for the principal<\/span> amount due to the licensee<\/span>, interest<\/span> accrued through the date the licensee<\/span> took possession<\/span>, and any allowable fees or costs of repossessing and selling the motor vehicle<\/span> described in subdivision A 5 of § 6.2-2216<\/a>. Borrowers shall be permitted to recover personal items from repossessed motor vehicles<\/span> promptly and at no cost. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Within 10 days of the licensee<\/span>’s receipt of funds from the sale of a motor vehicle<\/span>, the borrower is entitled to receive all proceeds from such sale of the motor vehicle<\/span> in excess of the redemption<\/span> amount included in the notice described in subsection B, less any additional allowable fees or costs of repossessing and selling the motor vehicle<\/span> described in subdivision A 5 of § 6.2-2216<\/a> that were not included in the redemption<\/span> amount. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Except in the case of fraud<\/span> or a voluntary surrender of the motor vehicle<\/span>, a licensee<\/span> shall not take possession<\/span> of a motor vehicle<\/span> until such time as a borrower is in default<\/span> under the loan agreement<\/span>. Except as otherwise provided in this chapter, the repossession and sale of a motor vehicle<\/span> shall be subject to the provisions of Title 8.9A. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Notwithstanding any provision to the contrary, but subject to § 6.2-2216<\/a>, upon default<\/span> by a borrower, a licensee<\/span> may seek a personal money judgment<\/span> against the borrower for any amounts owed under a loan agreement<\/span> if the borrower impairs the licensee<\/span>’s security interest<\/span> by (i) intentionally damaging or destroying the motor vehicle<\/span>, (ii) intentionally concealing the motor vehicle<\/span>, (iii) giving the licensee<\/span> a lien<\/span> in a motor vehicle<\/span> that is already encumbered by an undisclosed prior lien<\/span>, or (iv) subsequently giving a security interest<\/span> in, or selling, a motor vehicle<\/span> that secures a title loan<\/span> to a third party<\/span>, without the licensee<\/span>’s written consent. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLIMITED RECOURSE; REPOSSESSION AND SALE OF MOTOR VEHICLE (\u00a7 6.2-2217)\n\nA. Except as otherwise provided in subsection E, a licensee taking a security\ninterest in a motor vehicle pursuant to this chapter shall be limited, upon\ndefault by the borrower, to seeking repossession of, preparing for sale, and\nselling the motor vehicle in accordance with Title 8.9A. Unless (i) the\nlicensee, at least 10 days prior to repossessing the motor vehicle securing a\ntitle loan, has sent to the borrower, by first class mail, written notice\nadvising the borrower that his title loan is in default and stating that the\nmotor vehicle may be repossessed unless the principal and interest owed under\nthe loan agreement are paid and (ii) the borrower does not pay such principal\nand interest prior to the date the motor vehicle is repossessed by or at the\ndirection of the licensee, then the licensee shall not collect or charge the\ncosts of repossessing and selling the motor vehicle described in subdivision A 5\nof § 6.2-2216. A licensee shall not repossess a motor vehicle securing a\ntitle loan prior to the date specified in the notice. Except as otherwise\nprovided in subsection E, a licensee shall not seek or obtain a personal money\njudgment against a borrower for any amount owed under a loan agreement or any\ndeficiency resulting after the sale of a motor vehicle.\n\nB. At least 15 days prior to the sale of a motor vehicle, a licensee shall (i)\nnotify the borrower of the date and time after which the motor vehicle is\nsubject to sale and (ii) provide the borrower with a written accounting of the\nredemption amount, which shall be the sum of the principal amount due to the\nlicensee, interest accrued through the date the licensee took possession of the\nmotor vehicle, and any reasonable expenses incurred to date by the licensee in\ntaking possession of, preparing for sale, and selling the motor vehicle. At any\ntime prior to such sale, the licensee shall permit the borrower to redeem the\nmotor vehicle by tendering cash or other good funds instrument for the principal\namount due to the licensee, interest accrued through the date the licensee took\npossession, and any allowable fees or costs of repossessing and selling the\nmotor vehicle described in subdivision A 5 of § 6.2-2216. Borrowers shall\nbe permitted to recover personal items from repossessed motor vehicles promptly\nand at no cost.\n\nC. Within 10 days of the licensee’s receipt of funds from the sale of a\nmotor vehicle, the borrower is entitled to receive all proceeds from such sale\nof the motor vehicle in excess of the redemption amount included in the notice\ndescribed in subsection B, less any additional allowable fees or costs of\nrepossessing and selling the motor vehicle described in subdivision A 5 of\n§ 6.2-2216 that were not included in the redemption amount.\n\nD. Except in the case of fraud or a voluntary surrender of the motor vehicle, a\nlicensee shall not take possession of a motor vehicle until such time as a\nborrower is in default under the loan agreement. Except as otherwise provided in\nthis chapter, the repossession and sale of a motor vehicle shall be subject to\nthe provisions of Title 8.9A.\n\nE. Notwithstanding any provision to the contrary, but subject to §\n6.2-2216, upon default by a borrower, a licensee may seek a personal money\njudgment against the borrower for any amounts owed under a loan agreement if the\nborrower impairs the licensee’s security interest by (i) intentionally\ndamaging or destroying the motor vehicle, (ii) intentionally concealing the\nmotor vehicle, (iii) giving the licensee a lien in a motor vehicle that is\nalready encumbered by an undisclosed prior lien, or (iv) subsequently giving a\nsecurity interest in, or selling, a motor vehicle that secures a title loan to a\nthird party, without the licensee’s written consent.\n\nHISTORY: 2010, c. 477, \u00a7 6.1-497; 2020, cc. 1215, 1258.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}