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Most of the time you do, YES.

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โˆ™ 2015-07-15 18:37:59
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Q: Do you have to pay off a repossessed car?
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Related questions

My car was not repossessed but the account was charged off what can happen?

Will be repossessed, be patient. You either pay off, or pay off. No longer able to make payments. They will repossess the car and sue for the difference. Sorry.


Should you pay off your repo car?

You should pay off your repossessed car if you want to fix your credit quickly. If you are not worried about your credit, you can wait to pay off the car or file for bankruptcy.


Can a car be repossessed from a car dealership?

if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed


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.


My car was repossessed and they wont give me back the car unless i pay the car off?

that's the point of repossession. you cant pay, they take it away.


Do you have to pay the difference on a repossession car loan?

Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.


If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?

IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.


How do you get a title for a car that has been charged off for non payment?

Pay it off. It will still likely be repossessed.


Can car be repossessed with 2 payments left?

yep....pay it off so they cant


How do you get your car back if it was repossessed?

CALL the lender or better yet, VISIT the lender with CASH ready to pay off the car.


If thay repossesse your car do you have to pay it off?

Most of the time when a car get repossessed you will still have to still pay monthly payments. In some cases you will not have to continuing paying.


Can your car be repossessed if there are children's safety seats in the vehicle?

Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.


How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


Do you still have to pay off the loan once your car is repossessed?

In almost all cases, YES. At the very least you will pay the difference in what the car sells for and the balance on the note.


Are you still responsible to pay off the remainder of your car balance once it is repossessed?

YES. Read your contract.


Can a car be repossessed after it is paid for if the buyer has a side note for a car repair that has not been paid in full?

Yes. Pay the repair bill off, ASAP.


Can a car be repossessed if i owe less than 10 percent of the loan?

Yes, you must pay the entire loan off.


Your car was repossessed how can you get your car back?

If your was repossed you need to call the car company and pay your car


After a car is repossessed what happens to the owner of the car does he have to pay it off or what happens?

The former owner of the car, now still owner of the DEBT, gets to pay the debt. The leinholder will likely get a judgment for the balance due and proceed to collect. Uless your name is 'turnip", you will pay.


How can you get your car repossessed?

dont pay the payments ever


How can you register and make legal the car whose loan you defaulted on but which was never repossessed?

You'll have to pay off the bank and get the title cleared.


Who pays for a loan on a car if both husband and wife dies?

If the heirs at law want to keep the car, they must pay off the loan. Otherwise, the car would be repossessed by the lender.


Mother purchased a car and was making payments she died and still owes on it. what happens to the car?

The estate needs to pay off the car. If the executor agrees, someone in the family could come up with the cash to pay it off, and their portion would include the value of the car minus the money they added to pay it off. I do not know if you could allow it to be repossessed to end the debt.


My Car was repossessed what do I owe the bank?

They will auction the car and you will have to pay the difference of what you owe and what the car sold for.


If the car is charged off will it be repossessed?

Definately