The bank sells your car at an auction lot for about half the price you paid for it.
Repossession without judicial process is allowed if the lender has not breached peace. A lender repossessing an automobile must issue a notice to the borrower, and a lender can sell an item via public auction after repossession.
Go to a repossession auction. They are often advertised in the newspapers and on radio.
The amount you will owe the creditor will be the amount of your auto loan (including repossession fees, interest, and collection charges) minus the amount the vehicle sold for at auction. The creditor will notify you of the amount due in writing after they auction off the vehicle.
The Missouri auction guide is thr largest auctioneer in Missouri.
Yes. Whatever it gets at auction.
depends you should receive a notice in the mail from the lender as to the auction date and place.
legis.state.ga go here and search on repossession
They will only if the remaining balance after the repossession and auction goes to litigation and the judge orders the garnishment of wages.
Most major cities will have a car repossession auction. However, most of these will only occur a few times a year. Sometimes it will be advertised on television, or it will be in a newspaper posting.
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.
Most Missouri auto auctions are open to the public, and occur throughout the week depending on the auction house. Specific days and hours are available by contacting the auction companies