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Can you still owe money on a car that was repossessed and resold to another buyer?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
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What happens to cars after they have been repossessed?
They get resold as used cars to make some of the money back.
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.
What happens when a vehicle is purchased outright from a private seller and the title has a third party lien and the vehicle gets repossessed?
VICTIM buyer has to pay off the leinholder to get car. And/or sue con seller. Leinholder WILL get their money. GOOD LUCK...
Can your car get repossessed after bankruptcy?
not if you still owe money on it
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 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.
How do you get money for first time home buyer?
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Can you be sued if you let your mobile home be repossessed?
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
When a car is repossessed voluntarily will the lender still try to go after the cosigner first to collect the rest of what is owed on the car?
Its NOT a matter of first or second, its who has the most assets that can pay. If the buyer doesnt pay, they will be on the cosignors steps the next morning. Vol or Invol, they want their money.
Can you buy another car though your first car got repossessed?
Yes, if you have the money you can buy it. If you are searching for a car loan, you may have some difficulty in that. Paying cash, no problem.
Can a car repossessed after being 8 days late?
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.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
