If you have had your vehicle that you are paying on time repossessed by the lender, the vehicle will be auctioned off and the net amount received at the auction less auction costs, storage fees and repossession fees will be applied as a credit as to the amount of the loan you still owe.It would be improper for you to file for lost title for you to sell the vehicle you are writing about since you know that the lender is holding the registration to it.