When a vehicle is repossessed, it will eventually be sold at auction. Occassionally, the amount received from the sale is greater than the balance owed. On these occassions, the excess is sent to the debtor.
No.
I had a car that was financed through HSBC repossessed last year. It was repossessed. Can HSBC take my federal income tax refund for this repossession?
Yes.
if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed
Your car can be repossessed if you miss one payment. Not likely they would do that but it is possible.
Your car dealership may have sent you a check as a refund for overpayment, a rebate, or as part of a promotion or incentive program. It's important to review the accompanying documentation to understand the reason for the check.
maybe but your car would be repossessed
The only way you can have your car repossessed would be to not make any payments. If you have taken out a loan and have not made payments, they will take your car away.
If you have had a car repossessed, you have not kept up with the payments. You probably still owe money on the repossessed car. In these circumstances, the fact is that you can not afford to purchase another car and would not be able to obtain the finance to do so.
if i get my car repossessed, can they put a llien on the house?
No. No previous owner would want to refund their used car after selling it to someone else. It was also based on their agreement that no refund will gonna happen.
Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.