If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.
As a rule of thumb, you will owe the difference.
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
Yes. If the car's value at repo was under what you owed they can get the difference, court costs and interest.
by paying the bill or rebuy it at an aucton
Not sure of your question. Do you mean do you still owe after the car is repossessed? Or do you mean do you have to pay off a loan to buy a repossessed vehicle? It depends on the state you are in, contact the lender.
When a vehicle is repossessed, it is usually put up for auction. If the monies recovered from the auction is not enough to cover the outstanding balance on the loan, the person the vehicle was repossessed from is expected to pay the difference. It's a bummer, but that's how it goes.
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
Obvious answer, Yes.