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After they repossess the vehicle they will sell it for whatever they can get. You are then responsible for the difference in what they sold the car for and the balance owed on the loan. If you do not pay this amount they will take you to court.

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18y ago

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Related Questions

If I take my car back to the bank that financed it will they process it as a repossesion?

Yes because that is what it is.


Can a bank repossess a car or sue someone with whom they have a signed contract even though the car owner has a clear title for the car?

YES, the contract is what they sue for unless the car is listed as COLLATERAL for the loan. Then they repo the car and sue ya.


Can you sue the car dealership if the deal was denied from the bank?

No! its not the dealerships fault.!>!!>!:)>)>)


Can a creditor sue you for a 8yr old car repossesion or is there a statute of limitation on this in Ga?

The statute of limitations on a written agreement in Georgia is six years. The date when it starts running may be difficult to determine, but it is possible.


Is There a certain way you can park your car to stall the repossesion of your car?

park in a locked garage


If you have rightfully repossessed a vehicle from a private party sale in the state of Virginia can the guy you sold the car to sue you for money he has paid on the vehicle prior to repossesion?

This is best answered by referring to the language of your private sales contract.


What do you do if the repossesion company driver slams the chains on the car when your kid is in the car?

That type of action would constitute a breach of the peace on behalf of the repo agent. This happened to a woman in California and she won 1.2 mil in a lawsuit against the bank.


What to do about North Carolina car repossesion?

Deal with it. You failed to pay that note, the finance company reclaimed their car.


A friend bought me a car with a personal note from the bank and the car is in my name can they take it back?

No, they can't, but they can sue you for the value of the car unless you can prove that it was a gift.


How much verbal abuse do you have to take from the bank that repossessed the car?

they can call you as many times as they need to. depending on your state. most laws require 3 months of non payment before they can send a tow truck to come get your car for repossesion


Avoid car repossesion?

Right now with the bad ecomony banks are willing to work with you on payments including lowering them. I would recomend calling your bank ASAP and explain your situation they WILL work with your if your not a repeat offender.


If you owe money on a car your insurance has expired and you damaged your car you are going to call the bank for a voluntary repossession can they sue for damage?

CAN & WILL. Good Luck