In Florida when a car is repossessed do you still have to pay for it?
The vehicle will be sold. That amount will be applied to your balance. You will be responsible for the remainder owed along with any fees associated with the legal aspects etc
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay…
If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?
After a car is repossessed what happens to the owner of the car does he have to pay it off or what happens?
Can you get your repossessed car back once you have paid back the amount that was owed for past payments in Florida?
If a car is repossessed in the state of Florida do you have to pay for the vehicle in full before being able to receive the vehicle?
Yes, it can be repossessed. If you owe money on a vehicle and do not have a clear title of the car - In reality, this car is not yours until the debt is paid. The car is collateral until your pay the loan off. If the car was repossessed, the personal contents like the car seat must be given back to you.