It will not be registered in your name. They sold it and will register it in the new owners name.
A vintage Bugatti sold at auction in California for about $30 million.
YES. Once a car is repoed, the PP must be inventoried and the debtor notified by law. The car can then be sent to the storage facility (auction).
if your car is repoed,and sold for more than you owe, you get the extra. this is fed. law. if sold for less,you pay the diff.
NO. It can be sold any way the bank wants it to be sold
Read your sales contract.
The lender will get a JUDGEMENT for the balance due and put THAT on your CR. And then use their OTHER legal options.
Frequently it takes from 1 till 14 days auction time. The car is sold till the days, which is set from the seller, are not over. Also the car is sold only when the reserve price is reached. When you go to an online car auction there you can see the time, how much remains.
They will auction the car and you will have to pay the difference of what you owe and what the car sold for.
The highest price ever paid for a car at auction was $11 million paid for a 1931 Bugatti Type 41 Royale Sports Coupe sold by the auction house Christie's in 1987.