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Yes, your car will be sold and if the price they sell it for is less than the balance left on the loan, plus the repossession fees, you will be responsible for that difference and will have to pay it.

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βˆ™ 2011-06-07 03:53:27
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Q: Can you still owe money after your car is repossessed?
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Related questions

Can your car get repossessed after bankruptcy?

not if you still owe money on it


If you LEASE a car and have it voluntarily repossessed will you still owe money on it?

Yes


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.


You owe money on a repossessed car but the car was refinanced to someone else do you still owe?

I believe you would owe the difference. If you owed 10,000 on the vehicle and it was repossessed and someone else bought it for 8,000 you would owe 2,000.


Can your car be reposessed after six years?

If you still owe money, it may be repossessed at any time.


Can you still owe money after your car is repossessed and you are bankrupt?

You still owe the balance after the insurance money is paid, if there is a balance. You can only get rid of it, along with your other unsecured debts, by filing bankruptcy.


Can you still owe money on a car that was repossessed and resold to another buyer?

yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.


Can you buy another car even though is repossessed?

If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.


In Utah can your wages be garnished for a car that was repossessed?

You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.


Can a car be repossessed when 1 payment is left?

As long as you owe them money they can take it.


Can they repossessed the car if you just owe the last payment?

The lienholder has an option to repossess when you become deficient on your payments for as long as you owe money on that vehicle. If you skip your last payment, that car can be repossessed.


Can the lender collect the rest of the money you owe on a car that they repossessed?

In most cases, YES

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