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What is the difference between a car been repossessed or voluntarily surrendered?
Wiki User
∙ 17y ago
AS far as your credit goes there isn't any a repo is a repo it stays on your credit for seven years.A voluntary repo can save you $200-300 in repo fees .You are still charged all the fees related to preparing the car for auction and auction fees etc. which run between $500-700 and up.And of course that is added to the balance after the the car is sold.
Wiki User
∙ 17y ago
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Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
What is the difference between a confession and a guilty plea?
confession happens voluntarily, guillty plea after being charged.
If a car is repossessed and they sell the car how much can you owe?
The difference between the sale price & loan balance is what they will bill you for.
Do have to pay the difference on a repo car?
Yes. If you take out a car loan, fail to make payments, and the car is repossessed, you will have to pay the difference between the price the lender received at auction and the balance remaining on your loan.Since repossessed cars are usually sold at wholesale auctions, the difference can be thousands of dollars.
Do you still have to pay for a car if you do a voluntary repossession in the state of Virginia?
Yes.. anywhere. When a vehicle gets repossessed (voluntarily or involuntarily) and it isn't reclaimed, the vehicle gets auctioned... the person who took the loan on the vehicle is still responsible for the difference between what was received for the vehicle at auction and what is owed on the balance of the vehicle (plus repossession, storage, and auction fees).
Can they make you pay the difference between what the car brings and the amount you owed if your car is repossessed and auctioned in Arkansas?
YES, read the contract you signed.
Can you still owe money after your motorhome is repossessed?
Absolutely. When an item is repossessed, it's typically auctioned off. The person who the property was repossessed from is still responsible for the difference between what the final auction price was and what the amount owed at the time of repossession was. Additionally, repossession, storage, and transportation costs will be added to the amount owed.
Your car was repossessed. you have to make an offer of payment. if they do not accept the offer can they force bankruptcy?
They can't force you into bankruptcy, that is a choice you have to make based on your ability to pay your debtors. When a car is repossessed it is sold and you have to pay the difference between what you owe and the cars sale price.
What is the difference between adoption and for sale?
Generally adoption is for animals that have been surrendered or unwanted, and for sale is generally pets that have never been owned before.
What was the difference between Cornwallis' surrender and Robert E. Lee's surrender at the conclusion of the war?
Well, when Cornwallis surrendered, it had been just a battle that he lost. But when Robert E. Lee surrendered it was the whole reason to why the confederates lost the Civil War.
How much money do you get paid for repossessing a car?
I'm sure it depends on where you are, but the finance company that I used to work for paid between $150 and $300 per car, depending whether the customer voluntarily surrendered the car or whether the repo agent had to take it.
What is the difference between a tranquilizer and a sleeping tablet?
tranquilizers are injected as a liquid into the body or through the oral cavity as a sedative, but sleeping pills are used voluntarily and are usually in a capsule.
