Best Answer

YES, you pay all the loan amount, sooner or later.

User Avatar

Wiki User

โˆ™ 2015-07-15 18:46:51
This answer is:
User Avatar
Study guides

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

See all cards


30 cards

The existence of an international division of labor among countries enables those countries to have what

What provides a bank with collateral on a car loan

What is one of the disadvantages of getting a government-sponsored mortgage

What does a good credit history do for consumers

See all cards


31 cards

The existence of an international division of labor among countries enables those countries to have what

What provides a bank with collateral on a car loan

What is one of the disadvantages of getting a government-sponsored mortgage

What does a good credit history do for consumers

See all cards

Add your answer:

Earn +20 pts
Q: Do you still have to pay part of the loan depending on the value of the car if it is repossessed in California?
Write your answer...
Related questions

Can you let a car be repossessed with scratches on it?

A car can still be repossessed if it has scratches or some slight damage. The current value of the car is normally used when netting off the debts.

If you still owe for a car that was repossessed three years ago can they take your new vehicle that is fully paid for?

Depending on your state, the LENDER can get a JUDGEMENT and attach your "paid for" car(or anything else of value in your name) so when you sell it, they will get paid first.

If you hold the title and its in your name can your vehicle still be repossessed?

Well, if the title lists no lienholders, it cannot be repossessed. If it lists one, it would be best to surrender it or don't keep anything in it of value. Yes. Even if the lien is not recorded on the title, it hass probably still been filed with the state.

Shoplifting in California?

. . . is a crime. Depending on the value of the items you steal, it can be either a misdemeanor or a felony.

In Virginia can a credit company repossess your car and still demand the money owed above the value of the car?

When your car is repossessed, they sell it for what they can get. Value has nothing to do with what price it brings. They simply get what they can. You are then responsible for the difference in the amount they sell the car for and the balance on the note. Your credit is then ruined for 7 years. This is why having a car repossessed is a horrible idea, and should be a last resort.

Can a tractor be repossessed?

Yes, as long as it has some value

When a car is repossessed do you still have to pay for that car?

Yes. If there is a difference between the value of the vehicle and the balance still owed on the loan, plus applicable fees and interest, it must be paid by the borrower. However, the actual value of the vehicle may not be the amount that it is sold for even though the lender/seller is legally required to make a reasonable attempt to get the market value.

What can you do with a car that is still financed but has a blown engine and is not worth fixing?

Continue to make the payments if you value your credit score Otherwise it will be repossessed running or not and that's a big black mark on your credit

How much for street value on vicodin m357 in California?

anywhere from $5-$10 per pill, depending how nice and how close you are to your source

Value of m77 mark11 still in box?

500-1000 USD depending on specifics

What is the value of a 1970 ruble?

The value of 1970 ruble is 1-4 dollars depending on quality. But still it's cool coin :)

Is it a criminal offense to strip and sell parts off a vehicle before letting it be repossessed?

Yes. The charge might be grand larceny depending upon the value of the vehicle, amount received for the parts and other extenuating circumstances.

What is the value of a 1929 fifty dollar bill stamped by the federal reserve bank of California?

There is no exact value to this bill. It can be worth quite a bit more then its original face value though depending on the condition of the bill.?æ

Can you get a repossessed boat cheap at an auction?

Often repossessed boats are sold for 60%-75% off their book value. You can however encounter bidding fees and will need to have a deposit as well if you are the winning bidder.

Where do I find repossessed vehicles for sale?

First, they go to auction. Depending on the agency auctioning them,, those auctions may be open to the general public, or they may be open only to selected bidders. From there, they're often bought by wholesalers.. depending on the age and value of the vehicle, they may either be bought by reputable dealerships, or by these 'buy here, pay here' lots.

What is the value of a 44 mag ruger vaquero 7.5 barrel and is it a collector?

$350-$400, depending on condition. It is still in production.

What is the value of a 20 aenta coin from 1969?

This is a Greek 20 Lepta coin, which is still quite common - and the retail value can range anywhere from about 10 to $7.50, depending on condition.

What is the value of the Sacajawea coin still in us mint wrap and uncirculated?

Retail prices are 17 to 61 cents above face value depending on date and mint mark.

Is 1926 peace dollar of value if there is a hole in it?

It doesn't have a collectible value. However, depending on the size of the hole it may still be worth up to about $20 for it's silver content.

What happens when you take a car out of state when it is being repossessed?

I can can be legally repossessed no matter where it goes in the USA. As long as the repossessor can find the car and identify it as the one to be repossessed. It may not be cost effective if it is a long distance unless the vehicle is of greater value than the cost of returning it and paying someone to do that. They can also wait until you return.

What is the value of a 1929 fifty dollar bill from the federal reserve bank of san francisco California?

If circulated, $65 to $95 depending on condition. Uncirculated, around $300.

What happens to repossessed cars?

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.

Can your paycheck be garnished from a repossessed vehicle?

Yes. If the car's value at repo was under what you owed they can get the difference, court costs and interest.

How much the value of a 1937 Mercury dimes with the D mint mark?

Circulated coins are still valued at $2.00-$9.00 depending on grade.

Who retains ownership of a vehicle that was repossessed when the borrower has his wages garnished for money still owed?

The lender owns the vehicle and is required to sell it at a public auction for as close to the market value as is possible. It is likely the judgment wage garnishment is a result of money still owed on the original loan amount plus fees that were not covered in the sale of the vehicle.