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If they actually make money on the sell of the car, YES. But the odds of them selling it for enough to cover all of their costs and have something left over is slim to none.

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โˆ™ 2015-07-15 21:28:25
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Q: Can the owner get money back when a repossessed car is sold?
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Related questions

If your motor home is repossessed and you can't pay the difference what happens?

The motor home is sold and the money received from that is used to pay the difference. Any money left over will be returned t the owner.

Who owns the car after it is repossessed?

It would go to a car auction and sold on to a new owner and may be sold for a price much less than it is worth

Do I get any capital back when a repossessed house is sold?

This depends on what state the property is located in. Generally, after the loans and all other costs associated with liquidating the property are paid for by the home auction, if there is any money left, it does go to the owner. But you need to check the laws for your specific state.

Do you have to pay the whole vehicle off if it is repossessed?

Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.

How do you get your money back if your car gets repossessed?

A repossessed vehicle is sold at auction to repay the lending institution. After the vehicle is sold, any money will be used first to pay the auction company, the repo agency and then all remaining funds will be applied toward the amount due on the loan. If anything is left over, you should get it. If there is a deficit, the bank will contact you to make arrangements for collection of the amount owed. You typically don't get any money "back", but usually end up owing the bank.

Can you get a car back after it has been repossessed and sold?

The only way to get it back would be if it were up for sale and you bought it. Once it's legally sold, it becomes the property of the new buyer.

How do you get a repossed vehicle back?

If your car is repossessed and you want to get it back, you can contact the finance company and clear any outstanding payments. They may agree to return your vehicle to you if they have not already sold it but be warned that lenders try and sell repossessed vehicles as quickly as possible to try and recoup funds. The finance companies often sell the repossessed vehicles at a car auction. Here they can be sold "as seen" and at a lower price than market value, thus they can be sold quickly. It is often possible to find out which auction your car is being sold at and you can get your repossessed vehicle back yourself by attending the car auction and bidding.

Does a lien on property mean it has to be sold in tn?

A lien on a property usually means that when the property is sold, the lien holder gets his money before the owner gets a penny. Back taxes get paid first, then liens get paid, and finally the owner.

What are your rights in Washington State after your vehicle has been repossessed?

Pay for the car and get it back, or pay the deficiency after it has been sold.

Who is the owner of raw?

Vince McMahon is the new owner of Raw,Donald Trump sold it back to him

What happens when a horse auction ends on does it go back to the owner?

if the horse has been sold, the money will be given to the seller and the horse will be transferred to the buyer's account.if it has not been sold it will return to the seller.

Does a repossessed car have to be sold at a public auction?

NO. It can be sold any way the bank wants it to be sold

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