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โˆ™ 2015-07-15 19:12:30
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Q: How do you find out what price your repossessed car was sold for?
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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


How do you get a repossed vehicle back?

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.


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

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


What can you do if your car was repossessed but was not changed out of your name?

There is nothing you can do till the car is sold.


Can you get sued for the balance of your car loan after the car is repossessed and sold?

Yes.


Where can you find out if the car that was repossessed has been resold and how much was it sold for?

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


How can one find car repossessions that are being sold?

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.


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


How might one purchase a bank repossessed car?

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.


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.


Can you still owe money after your car is repossessed?

Yes, your car will be sold and if the price they sell it for is less than the balance left on the loan, plus the repossession fees, you will be responsible for that difference and will have to pay it.


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

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Do have to pay the difference on a repo car?

Yes. If you take out a car loan, fail to make payments, and the car is repossessed, you will have to pay the difference between the price the lender received at auction and the balance remaining on your loan.Since repossessed cars are usually sold at wholesale auctions, the difference can be thousands of dollars.


Your car was repossessed. you have to make an offer of payment. if they do not accept the offer can they force bankruptcy?

They can't force you into bankruptcy, that is a choice you have to make based on your ability to pay your debtors. When a car is repossessed it is sold and you have to pay the difference between what you owe and the cars sale price.


Do you have to pay the whole vehicle off if it is repossessed?

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.


Can your car be sold if it was repossessed?

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


Does a lender need to notify you before they sell your car they repossessed?

Yes, they also have to send you official letter from auction at the price they sold it to deduct from the amount you own to the bank.


Where can one find information on repossessed car auctions?

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.


Can you repossess a car which you sold to a friend with a written contract stating that if payments are not made as agreed car will be repossessed?

YES.


How do you find out who repossed your car?

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


Where can I find cheap repossessed Cars?

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.


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.


If a car is repossessed and they sell the car how much can you owe?

The difference between the sale price & loan balance is what they will bill you for.


How do you find out where your repossessed car is being held?

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


Where are repossessed cars sold?

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.