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What determines if a car will be sold at public auction or a private sale after it is repossessed?
Wiki User
∙ 8y ago
The LENDER.
Lenders tend to have deals with auction companies. ALL repo'd cars go to auction, most of which are dealer only. You should be able to ask your bank where it went, then call that auction to see if it public or dealer only.
Wiki User
∙ 8y ago
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If you have a choice should your repossessed vehicle be sold at a private or public auction?
Dealers pay low(wholesale) prices at a public auction, private might be better. A lot depends on the car and the markey for it in your area.
Does a repossessed car have to be sold at a public auction?
NO. It can be sold any way the bank wants it to be sold
What is the purpose of auction notice?
To get enough people to attend the auction with the aim of increasing the chances of actually selling the auctioned items. Public auctions for foreclosed properties, repossessed vehicles, etc. are required by law to be announced to the public under the statutes pertaining to such in the state where the auction(s) are to be held.
I know that public sale means at auction. What is the definition of the term private sale versus public sale of real property in a will?
c
What are invitations to bid?
Invitations to bid are normally given out for a private auction. These events are not open to the public and only a select few are invited to attend and bid on the items up for auction.
Where do you find cheap vans?
If you mean the shoes, they are cheap when new. If you mean vehicle-a public auction or buy from a private party in the recycler.
How soon can you get another car if you are getting ready to start a new job and really need transportation and your previous car was repossessed?
You can buy from a private seller or you can use public transportation.
What does a public auction refer to?
A public auction refers to the selling or trading of items in a public setting. Anybody can attend and bid on the items up for auction and the profits are often to satisfy a judgement decided in court.
Can my car be repossessed while its parked in my yard in Virginia?
Yes, repossessions can (and often do) occur on private property. There are limitations imposed on the recovery agents, and they know how to plan accordingly. IMO, better that car (which is actually the lien holder's, which is why it can be repossessed in the first place) be repossessed while you're at home than while you're out in public somewhere and left stranded.
What date is used in cancellation of debt the last payment or when the vehicle was given back?
The debt is not cancelled simply because the vehicle was repossessed. The borrower is still responsible for the existing amount of the loan (if any) after the vehicle has been sold at public auction.
Where in California can I find a huge car sale or auction where I can get my next car really cheap?
Most major cities in California have large public auto auctions. Public auto auctions allow you to get a repossessed vehicle very cheaply, but is can be risky because you won't know exactly what you are getting until you purchase it.
Is Asda private or public business?
is nieghter private or public
