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What happens if you pay the cost of repairs to a car which cost more than the car is worth but now can not afford to pay for the car and return it to the bank?
Youbhor
The bank will send the car to the auto auction, sell it at wholesale value or less, and you will be responsible for the difference between what the bank received from the wholesaler and what is left on the loan.
PLUS, your credit will be damaged.
Wiki User
∙ 15y ago
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