Cars & Vehicles
Repossession
Math and Arithmetic

How can you find out if your repossessed car was sold?

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2006-06-13 03:48:48
2006-06-13 03:48:48

The lender should let you know, you can contact them and they should tell you.

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The LENDER keeps such records and will share them with you ultimately.

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The place to go to find out about repossessed cars being sold is through the USA government websites. The cars are being sold at auctions and this would be where to find out.

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

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Buying a repossessed car today can be a great way to save money, but be careful to inspect the car to be sure there are no hidden problems since they are typically sold "as is". Some dealers specialize in repossessed cars and you can also find them at a local auction.

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They will auction the car and you will have to pay the difference of what you owe and what the car sold for.

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If your car is repossessed and you want to get it back, you can contact the finance company and clear any outstanding payments. They may agree to return your vehicle to you if they have not already sold it but be warned that lenders try and sell repossessed vehicles as quickly as possible to try and recoup funds. The finance companies often sell the repossessed vehicles at a car auction. Here they can be sold "as seen" and at a lower price than market value, thus they can be sold quickly. It is often possible to find out which auction your car is being sold at and you can get your repossessed vehicle back yourself by attending the car auction and bidding.

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Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.

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Yes. Usually the loan holder will be held responsible for any deficit and perhaps fees that are incurred when the car is sold.

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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

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You can find information on repossessed car auctions on websites such as Absa (under repossessed cars), AutoBidMaster and RepoDirect. Depending on where you live there can also be local sources of information.

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The lender who holds the note on your car, is the one that repossessed your car.

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Your local car auction can provide you with a great selection of repossessed cars and trucks. You can contact banks and lending istituions for a list of cars tey have for sale most cars are sold at auction.

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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.

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The local police or the lender can tell you who has the car.

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Repossessed cars are generally sold at auctions, so look out for car auctions in the local press. Make sure that you ask for a catalogue before the auction and do some research before you go to bid.

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Will, that's usually the case. Then you pay the difference owed.

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It will be auctioned off and the bank will want to collect the difference of what it sold for and what your loan was.

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if i get my car repossessed, can they put a llien on the house?

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Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.

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Chris, I dont know the answer to the question YET. I will find out today. Email me latyer on and Ill have it for you. What does the lender "say" they will do???

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The lender will tell you ASAP after the repo if you call and ask. Or they will send you letters stating the BALANCE due after the car is sold. Communications is the way to go.

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No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.


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