Can I Keep my Car if I File a Consumer Proposal?

If you rely on your car to get to work or get your kids to and from school or daycare then the thought of losing your car is going to cause you a lot of anxiety

If you have a car you fall into one of three categories; either you own it outright (no loans), lease it or finance it.

If you own your car outright then there is no problem keeping your car if you file a consumer proposal.  One of the benefits of filing a consumer proposal is that you are allowed to keep all of your assets.

If you lease or finance your car then you should ensure that your payments are current.  If your payments are current then your leasing company or finance company will allow you to keep your car if you file a consumer proposal.

If your payments are not current and you are not able to bring them current then you will need to speak to your leasing or financing company about keeping your car.  They hold security over your car so it is their decision in the end whether or not to let you keep the car.  Most finance companies are willing to work with you to allow you to keep your car if you are slightly behind on your payments.

If you would like more information on about how consumer proposals work and whether it is an option for you email a trustee to book a free consultation.

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2 thoughts on “Can I Keep my Car if I File a Consumer Proposal?

  • Qari S.


    I got leased vehicle from Ford Lease few days before filing Consumer proposal. I am current with my lease payments. I wonder , if I stay current on lease payments, would they every come to return leased vehicle because I’ve filed C.P ?

    Thank you

    • J. Douglas Hoyes

      Hi Qari: As long as you keep your lease payments up to date, there would be no reason for Ford to take your vehicle. In fact, they prefer that you keep paying; that’s better for them than taking the vehicle back.


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