Auto Loans and Financing

If a car is repossessed and resold for more than was originally paid for it do you still have to pay it off and where can you find out what is owed?


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Wiki User
2015-07-15 19:38:22
2015-07-15 19:38:22

Start by reading your contract. Then CALL the lender who sold it to get the balance due.


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

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Provided the lender still holds the lien on the vehicle, it will still be repossessed and you will find you have a problem with a former friend.

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Repossessed cars are usually auctioned off in the county they were repoed in, you can also try this link to help find repossessed cars,

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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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