Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.
IT DEPENDS ON THE BALANCE OWING ON THE CAR,THE RULES OF YOUR CONTRACT AND THE CONDITION OF THE CAR RETURNED. MOST FINANCIAL INSTITUTIONS WILL AUCTION THE VECHILE AND PLACE ANY MONIES RECEIVED FROM THE SALE TOWARDS THE BALANCE OWING. IF THER IS STILL AN AMOUNT OWING, YOU ARE STILL LIABLE TO PAY THAT AMOUNT.
I'm not sure if this is valid in every state, but I believe that if the car is sold at an auction, you will still be liable for the left over balance. If the car is sold at an auction and the sell price covers the balance of the loan then, I don't think you will need to pay anything else. Maybe some fees for the repo. I "think" this is how it works
Yes, of course. Read your contract. A BHPH lot offers alternative financing to people who can't get financing otherwise. The terms are the same as any standard financing agreement. Bringing a car back, whether voluntarily or involuntraily is still a REPO. So, the dealer has the option to sell your repo at whatever price he accepts and sue you for the balance. This isn't Wal-Mart!
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