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How soon after a car is repossessed can it be sold to someone else without your consent?
Wiki User
∙ 18y ago
when your car is repossed they will send you a letter in the mail stating how much you back owe I believe that it also states how much the car currently is worth. The letter gives you a chance to re-buy the car however I can't remember if it gives you the amount of time you have to re-buy it. The letter is also to inform you what they can sell the car for alot of times if they sell the car for less than what it is worth they can come after you for the remainder. This could also differ according to the state you live in and according to the agreement you have with the loan company. My car was repossed and I ended up having to pay the back charges. Sometimes they will cut you a deal for that. For me they took half off what I owed and I payed the remainder so that it would no longer be on my credit report. But I waited for them to find me. Pretty much right away .
Wiki User
∙ 18y ago
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