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When a car is repossessed and sold at auction in NJ how will this auction be handled and can you find this info anywhere?


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Wiki User
2005-03-03 13:33:41
2005-03-03 13:33:41

http://lis.njleg.state.nj.us/cgi-bin/om_isapi.dll?clientID=6507825&Depth=2&depth=2&expandheadings=on&headingswithhits=on&hitsperheading=on&infobase=statutes.nfo&record={3E10}&softpage=Doc_Frame_PG42 The lender should be able to give you this info. It will likely be at a wholesale car auction for dealers only. You need to read the CONTRACT you signed. You will likely be responsible for the balance due on the loan.

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Your local car auction can provide you with a great selection of repossessed cars and trucks. You can contact banks and lending istituions for a list of cars tey have for sale most cars are sold at auction.

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You can find thousands of government owned/repossessed cars by going to the government auction site. The prices start very low and there are thousands to choose from.

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It will most likely go to a wholesale auction where only licensed dealers are allowed to bid.

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You can buy repossessed automobiles in the U.S. through many county auto auctions or police auto auctions. Check with your local courthouse or police department to find the next auction.


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