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I believe that once the car is sold at an auction or other means, you are suppose to be provided with paperwork showing you the amount it sold for and any remaining balance. If there is a remaing balance, you will probably be ask to pay it.

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โˆ™ 2015-07-15 18:33:47
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Q: How can you find out how much your car was sold for after a repossession?
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If a car is sold after repossession does law state that it must be reported to the bureau as zero balance?

If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?


How can Ifind out how much your car sold for after repo at the auction?

Contact the lender or the repossession agency in writing and request a copy of the report of sale.


How can you find out if you have a repossession on your vehicle?

miss a couple of car payments and you will find out!


Do i have to pay money back once a car is reposesed?

Yes you do. They repossess the car and then sell the car. You are responsible for the difference in what the car sells for and what you owe on the car. You will also pay any fees associated with the repossession. Let's say you owe $10,000 on the car and the sell the car for $8,000. You will then owe $2,000 plus repossession fees that can fund into as much as $500 or more depending on how much effort is required to find and repossess the car.


Do you have to payoff a car repossession?

Yes, you owe the difference of the amount of the loan and what the vehicle was sold for plus any costs of the repossession. You are expected to pay that amount.


Find out how much a car sold for?

can't really understand your question. you mean how to find out how much a car can be sold? you can check out some free car classifieds sites and compare prices to get idea with regards to how much is the value of a car. the mileage and condition of the car is a great factor when pricing a car.


How do you write a car repossession letter?

How do you write a car repossession letter?


Where do you get car repossossion permit?

who is allow to do Vehichle/car repossession? when is a vehichle/car repossession not allowed? whats the minimum insurance needed for car repossession?


After car is sold by repossession company do you get a get a letter?

When your car is repossessed, what you will get will depend on your local governmental regulations. When I was in a car wreck, I was able to go by the junk yard and get my tool kit out of my car.


Is concealing a car from repossession a felony in Georgia?

is concealing a car from repossession a felony in georgia?


If your car is sold to the person with the highest bid how do you find out how much it sold for in Ky?

The lender will tell you when they notify you of the Balance due.


How Do you find out for free if your repossessed vehicle a month ago has been sold and for how much?

You really don't. Bt you can make an estimate. Take the amount owed on your loan at the time of repossession. Once the car is sold, the lien holder will contact you. See, they're not likely to get the full amount owed by you at the auction, so there'll be a remaining balance. They're going to expect you to pay that back still. They'll tell you what that amount is. So you subtract that amount + repossession and storage fees from the balance you had prior to the repossession, and you'll get a rough idea of what it was sold for at auction.

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