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∙ 16y ago
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My Car was repossessed what do I owe the bank?
They will auction the car and you will have to pay the difference of what you owe and what the car sold for.
Can they take your taxes if you owe a car loan?
no
After a car is reposessed and sold for more than you owe on the loan who get the difference?
if your car is repoed,and sold for more than you owe, you get the extra. this is fed. law. if sold for less,you pay the diff.
Will you owe taxes on a totaled car?
Not if you notify you local PVA that the car is totaled and not longer in service. You will pay taxes up to the day it was totaled.
Inherited classic car - do you have to pay taxes when car is sold?
No
If you sell a car and you owe the creditor do you have to pay them the amount the car was sold for?
If you sell a car you owe a creditor a balance on, you pay the creditor the amount you owe him in order to get the title to the vehicle to turn over to your buyer. Anything over the balance owed to the creditor is yours to keep, assuming you sold it for more than you owed on it. If you sold it for less than you owe on it you will have to pay the additional amount out of your pocket to get the title.
If you owe more than the car is worth what happens if it gets repossessed?
The car goes to auction, then you owe the remaining balance of you loan + repossession and storage fees minus what the car was sold for at auction.
How can you look up if you owe back taxes on a car?
Contact your local property tax evaluator and they can tell you.
What will happen if you file the current years taxes and owe for back taxes?
You will have to pay a fine. And pay all the money back that you owe.
Can fed take my taxes if i owe state?
if i owe federal taxes will they take my state refund
As a non-resident US citizen will you owe US taxes when you win a house or car overseas?
Yes. You must.
If you surrender a car that you can no longer use and can't afford do you still owe the difference between its value and the loan amount?
YES, she will owe the remaining balance after it is sold.
