this post was submitted on 03 Jan 2025
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No, the bank does not own the car. They have a lien on it, i.e it is collateral for you defaulting on the loan they gave you to purchase it. Thats not ownership as much as its a stake on the material good as collatoral for payment. Contractors/etc can put similar liens on houses that mean you cant sell the house without paying them. That too is a civil matter.
Enforcing a lien is a civil matter. The process for enforcement varies state to state, but it is a contract dispute, not theft or anything like it.
Breach of contract has penalties that can include various things, including repossession, but cops wont enforce that without a writ from the courts, and often not without a nominal fee paid. This is normally when the losing party in a lawsuit refuses to comply with a judges ruling for payment to the wronged party. A simple car loan default doesnt rise to that level.
There is a reason its repo guys rolling around in tow trucks picking up defaulted cars and not cops. Its not a criminal matter.