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Repossession

How can you find out how much your car was sold for after a repossession?


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Wiki User
2015-07-15 18:33:47
2015-07-15 18:33:47

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

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

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

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When your car is repossessed and not reclaimed, it normally goes to action. You'll owe the difference of what you owed previously and the amount they sold it for at auction, plus interest, plus repossession and storage fees.

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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.


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