What will happen if I strip parts off my car before it gets repossessed?

If the bank or the entity that holds title to your car is repossessing the vehicle, that means that they own the vehicle and you have presumably agreed to make payments toward the ownership of that vehicle. If you strip it or damage it in any way, you are liable for the damage you have done, or the value you have removed from the vehicle. It gets worse. If you purposely or knowingly took value from the vehicle, the intent in which you acted toward this end will be seen by the court to cause greater penalties toward your actions.

My recommendation: Do what the law says is the right action. By stating that you did not know that your act was against the law will not hold up in court. Good luck.