answersLogoWhite

0


Best Answer

No. Who ever holds the note gets to decide how the vehicle is resold.

User Avatar

Wiki User

โˆ™ 2010-07-29 07:44:38
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: Does a repoed car have to be sold at auction?
Write your answer...
Submit
Related questions

If your car was repoed and the car lot sold it but it is still registered in your name what should you do?

It will not be registered in your name. They sold it and will register it in the new owners name.


Why would a car be sold at auction?

yes


What is the most expensive collector car sold at auction?

A vintage Bugatti sold at auction in California for about $30 million.


Is it legal to repossess and inventory and send a car to auction within a 24 hour period in Florida?

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).


After a car is reposessed and sold for more than you owe on the loan who get the difference?

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.


When a car gets repoed and sold at an auction for less than its value can the leading company put a lien on your credit report for the balance?

The lender will get a JUDGEMENT for the balance due and put THAT on your CR. And then use their OTHER legal options.


How long does it take for a car to be sold at auction?

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.


Does a repossessed car have to be sold at a public auction?

NO. It can be sold any way the bank wants it to be sold


Can a car that was sold be repoed if title not transferred WITHIN 45 DAYS AND NO Insurance?

Read your sales contract.


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.


What is the most a car has ever sold for at auction?

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.


An example of a compound sentence using the word sold?

"We went to the car auction and we sold our car."A compound sentence is any sentence composed of two independent clauses joined by a conjunction. Here, the two independent clauses are "We went to the car auction," "we sold our car." The conjunction is "and".


Where do they take the car?

THE RECOVERED (REPOED) VEHICLE IS TAKEN TO A STOARGE FACILITY USUALY RAN BY THE REPO COMPANY. THE PERSONAL PROPERTY IS INVENTORIED, A CONDITION REPORT IS COMPLETED AND FORWARDED TO THE LIEN HOLDER. AFTER THE REDEMTION PERIOD THE CAR IS TRANPORTED TO AUCTION AND SOLD TO THE HIGHEST BIDDER. YOU ARE THEN RESPONIBLE FOR THE DIFFISENT, IF ANY.


Can the loan co. who repossessed car tack on interest after car is sold at auction?

hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh


What happens to auction cars that are not sold?

They can renew their auction any time they want...Untill they have a final bidder who will win the car!


Which is the worlds most expensive car?

The most expensive car you can purchase from a dealer is the Bugatti Veyron Super Sport which has a sticker of $2,500,000. The worlds most expensive car that was sold at auction was the 1936 Bugatti 57SC Atlantic which sold at auction for $30,000,000.


What is the name of an item sold at an auction?

Car Furniture Artwork House Jewelry


Who owns the car after it is repossessed?

It would go to a car auction and sold on to a new owner and may be sold for a price much less than it is worth


Once your car has been repossessed and sold in Ohio how can you find out how much it was sold for?

Usually you will get a sale letter from the finance company or bank letting you know where the car will be sold, at what auction, and once it is over they will send you a letter of how much the car sold for and the remainder they will send you a bill for. This is concerning a public auction of your vehicle. If it was sold privately by the dealership or whomever, the only thing to do is call and ask.


Can you get your wheels back if car was repoed?

No As far as finance company is concerned the car came with wheels, it has wheels on it when repoed. Done deal.


Is it poss to auction a car with a reserve at barrett Jackson?

No... Barrett Jackson no longer allows reserves on cars consigned to their auction. All car are sold to highest bidder.


If you owe more than the car is worth what happens if it gets repossessed?

The car goes to auction, then you owe the remaining balance of you loan + repossession and storage fees minus what the car was sold for at auction.


What was the make and model of the first car sold at Manheim Auto Auction?

The very first Manhiem auction ran 3 cars through but only sold one. It was held in Manheim, Pa 1945. I have been unable to find out what make and model that first car they sold was.


How can they still get money from us if they got 10000.00 at auction and you have paid 10500.00 do you still have to pay 10000.00 more for a car that cost 17000.00?

You paid $10.500 for auto. It went to auction! then it must of been repoed! How much did you owe on auto when it went to auction. the auction paid 10000 & THE COST WAS $17000. Did they send you a paper showing balance owed to car along with auction sale price. I wouldn't pay another cent to them.


After a repo do you still have a chance to get car back?

No chance, that car more than likely has been sold to in an auction.