It is still a loan. as long as you owe, interest accrues.
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
The person or company that repossed it.
The company physically takes possession of the car. They sell the car, and apply the sale price to the outstanding loan. You are then responsible for the remaining balance.
Generally speaking, yes. It probably varies a little from state to state, but usually, the finance company repos the car then sells it at an auction and deducts the amount from the sale from the amount you owe. Then, at some point, they will sue you for the remaining balance.
Yes, it can.
Pay what you owe.
The lender who holds the note on your car, is the one that repossessed your car.
Sell or continue to make the payments. Do not let the car be repossed. This would hurt your credit and is the last thing to do.
Anyone's car can be "repossessed" if they don't make their car payment.....