Auto Loans and Financing
North Carolina

Is it true that when your car is repossessed you have to pay the difference in what they sell it for and what you owe on it in North Carolina?


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Wiki User
2011-09-13 03:16:41
2011-09-13 03:16:41

YES, if NC didnt allow that, you couldn't buy a car in NC. No lender wants to give away money if they don't have to.


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If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.

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