They get resold as used cars to make some of the money back.
Repossessed cars are typically cleaned up and resold on a dealers lot. However, if the lienholder (the person who repossessed it) feels that it will cost too much to restore the vehicle to a sellable status, they will just put it in an auction and take whatever they can get for it. Repossessed cars are first examined fully to determine the remaining value of the car. If the car is suitable for repossession, it will be resold to another person for a discounted price.
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.
not if you still owe money on it
You do not owe money for a car if it has been repossessed, so your wages can't be garnished for that reason.
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
VICTIM buyer has to pay off the leinholder to get car. And/or sue con seller. Leinholder WILL get their money. GOOD LUCK...
what is the pay range for a retail clothing buyer?
Yes if you have bad credit and have a loan with a shady finance company. I think that's how they make their money betting on you the buyer to be late and then repossesse the car and do it all over again. Yes if you have bad credit and have a loan with a shady finance company. I think that's how they make their money betting on you the buyer to be late and then repossesse the car and do it all over again.