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I am behind 3 months on my van. My husband and I decided to let the car go. We have 1 week to make back payments and the current. I haven't yet called the lender to tell them to come repossess the van. I heard that I can try to sell the van by having someone pick up the notes or selling it for the balance of $13,000. Is it too late to sell it? How long after I tell the company to come get the car do I have to sell it first? I am behind 3 months on my van. My husband and I decided to let the car go. We have 1 week to make back payments and the current. I haven't yet called the lender to tell them to come repossess the van. I heard that I can try to sell the van by having someone pick up the notes or selling it for the balance of $13,000. Is it too late to sell it? How long after I tell the company to come get the car do I have to sell it first?
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∙ 15y ago
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Can your car get repoed for getting a DUI?
Repossessed no. Confiscated yes.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
If your car has been repossessed and you cannot pay what you owe should you let them sell it?
You have no choice.
Can you sell the engine out of a car that is going to be repossessed?
No, you must surrender the vehicle in the condition you received it in.
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.
Approximately how long does it take after your car is repossessed for them to come after you for the deficiency?
As soon as they sell the car so they will know what the balance due is.
If your car is repossessed are you responsible for the balance after they sell your car in Illinois?
You are unless it's a TITLE LOAN, they usually write it off.
Do you have to pay for a car if it is repossessed?
The bank will sell yours at auction. Whatever they do not recoup, you owe the difference.
When a car is repossessed does the finance company have to sell it for the amount it is worth?
no, they will sue you for the balance owed after the sale
What happens if a car is repossessed?
Unless you contact the bank and work out a solution, they will sell the car. You will then be liable for the difference in what the car sells for and the balance on the note.
Can a car be repossessed if the owner dies before the first payment is due?
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
If you have a lease through GMAC and the car gets repossessed do you owe for the remaining payments or do you owe for the ACV of the car?
they sell the auto at an auction sell it to the highest bidder and you the remainder
