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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.
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.
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.
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).
Why would a car be sold at auction?
yes
Can a car that was sold be repoed if title not transferred WITHIN 45 DAYS AND NO Insurance?
Read your sales contract.
What is the most expensive collector car sold at auction?
A vintage Bugatti sold at auction in California for about $30 million.
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.
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
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.
