When a car is repossessed do you still have to pay for that car?
Yes. If there is a difference between the value of the vehicle
and the balance still owed on the loan, plus applicable fees and
interest, it must be paid by the borrower. However, the actual
value of the vehicle may not be the amount that it is sold for even
though the lender/seller is legally required to make a reasonable
attempt to get the market value.