Yes.
The car will be sold at a public auction and the borrowers will be responsible for any difference between the selling price and the loan balance plus the allowable repossession and other fees.
The lender is legally required to make a reasonable attempt to get the fair market value of the vehicle, unfortunately this does not always happen and that sometimes leaves the borrowers with a substantial amount of debt to repay.
The car was repossessed one week before being off, now the creitor wants to charge me repossesses fees.
Most likely not depending on what financial situation you're in.
When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
YES, you pay all the loan amount, sooner or later.
The car was repossessed one week before being off, now the creitor wants to charge me repossesses fees.
Yes a vehicle can be repossessed if the loan is not being paid on.
Most likely not depending on what financial situation you're in.
The vehicle can be repossessed.
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
Yes, if you don't comply with the terms of the lending agreement.
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
As long as the loan for the unit is paid each month, the collateral will never be repo'd.
When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
Yes. If you have not paid for it then it is not yours.