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A repossessed vehicle is sold at auction to repay the lending institution. After the vehicle is sold, any money will be used first to pay the auction company, the repo agency and then all remaining funds will be applied toward the amount due on the loan. If anything is left over, you should get it. If there is a deficit, the bank will contact you to make arrangements for collection of the amount owed. You typically don't get any money "back", but usually end up owing the bank.
What else can I help you with?
What happens when a car is repossessed in the state of Georgia?
The car gets taken to the impound lot, and you have to file paperwork and pay a certain amount of money to get your car back.
If you put a lot of money in fixing up a car can you get the parts you installed back after it is repossessed?
NOPE, they are part of the car.
Can you get your car back after it has been repossessed in the state of Iowa?
Yes, there are some instances that a person can get a repossessed car back in the state of Iowa. If the person pays all the money owed plus a repo fee, the car may be returned.
What to do if your car gets repossessed in SC?
walk
Can a transfer of responsibility be made after car is repossessed?
No. Your car gets repossessed, it's on you. You don't get to pass that on to someone else.
If you paid the fees and got your car back from repo but what if you miss another payment with the bank?
It gets repossessed again.
What if you want your vehicle repossessed?
I heard if you surrender your car back to the bank the loan is from, they will auction the car to get money back, if they DONT get the whole amount of what you OWE on the car... They will bill you the balance.T
If your car was just repossessed will they let you get it back if you have the money and how long will it take to get it back?
get it back?? prolly, depends on your payment record,ect. They really dont want the car, they want the MONEY. How long?? a day or two
Can you retrieve personal belongings from a repo car?
Yes you can retrieve personal belongings from your car if it gets repossessed. By law you are allowed 7 days after your car gets repossessed to retrieve your personal belongings.
What happens if a car has dents and is repossessed?
It gets placed in the junkyard. In order to get the vehicle back you must you pay your bill, as well as pay your local junkyard company to get your car back.
Can your car be repossessed if there are children's safety seats in the vehicle?
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.
If your car was repossessed and you paid the loan off do you get the title?
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
