Repossession
Personal Finance
Loans
Money Management

If you are letting a car loan go unpaid and the loan is way upside down more than 10k on a 3 year old common car would it really be reposessed?

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2011-09-12 21:44:11
2011-09-12 21:44:11

Chances are the finance company will take what they can get from the car at auction even 3-4 thousand at auction beats nothing.Then they can come after youfor the remainder.Even if they sell your debt to a collection agency at 40 centson the dollar that's another $2500.00 giving them roughly what $5,000.00....surebeats the alternative of giving you the car for free.

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