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license require for repossession in ga
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∙ 14y ago
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If a car is repossessed and they sell the car how much can you owe?
The difference between the sale price & loan balance is what they will bill you for.
Do you have to pay sale tax on a car the you still owe and the bank still has the title?
Yes, you have to pay the sales tax when you license the car.
My Car was repossessed what do I owe the bank?
They will auction the car and you will have to pay the difference of what you owe and what the car sold for.
Can a car dealership repossess your car if they say you owe them more money for a down payment?
A dealership can only repossess your car if you do not pay in accordance with the sale agreement. If you did not pay the agreed down payment, the car may be repossessed.
Do you still owe the bank when a car gets repossessed?
Usually, yes. The bank will dispose of the car (often by auction) and then come to you for whatever they lost and all fees associated with the repossession and sale.
If you sell a car and still owe the bank how do you get the title from the bank?
you need to have the buyer fill out the Bill of Sale, and get the money before the title is handed over.
Do you have to repay the debt after reposession?
Depends. Usually the item is sold and the balance owed will be paid by the proceeds of that sale. You may also have monies coming to you. Example. you buy car for 25000 you paid 15000 (at time of repo) still owed 10000 Sale of vehicle was 8000 you still owe 2000 or Sale of vehicle was 11000 THEY owe YOU 1000 Hope this helps....
Can you go to jail if you owe a bank for a car?
in nc, can you go to jail if you owe a bank for a car?
Can you put registration on your can when owe finace on it?
Yes, you will need to have a registration on your car when you owe money (have finance) on the car.
How do you get rid of a car on which you still owe money?
Sell it privately for what you owe on it.
Can a car from a separate loan be repossessed if you default on another car loan?
Not as such. The bank can assess your property and sue you for the amount left over after the sale of your repossed automobile. If you owe less than the car is worth(in the case of the non repo'd car) the court can force you to sell it and surrender the equity from the sale. If that car is your only car left, some states will consider this primary transportation, and not allow it, however.
Once the lender sell you car do you still owe the balance?
You owe the difference in what the car sells for and the balance on the note.
