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The bank or loan company will sell the car for whatever the highest bidder will pay. The amount they receive will be deducted from the balance you owed on the car. You will have to pay that difference plus any repossession fees associated with retrieving the car from you. Your credit will be ruined for 7 years because you failed to honor the contract you entered into with the lender.
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What happens if I can't payoff my car by the maturity date?
get repossed
Who is liable if parts are sold from a repossed car?
The person or company that repossed it.
What happens if you hide a car from being repossed?
That is what we call theft. And then you will be sued, your wages garnished and your credit destroyed.
What happens if I Default on a business car loan?
the car will most likely be repossed and a court order issued against you for what is owing plus costs
If your car gets repossed can you get your possessions that you had inside?
yes
How do get your repossed car back in Arizona?
Pay what you owe.
Can my car get repossed from a private parking lot?
Yes, it can.
How do you find out who repossed your car?
The lender who holds the note on your car, is the one that repossessed your car.
Your car was repossessed how can you get your car back?
If your was repossed you need to call the car company and pay your car
What happens to payments made after a car is repossed?
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
Can a military members car be repossed?
Anyone's car can be "repossessed" if they don't make their car payment.....
How much can a repossed vechicle be resold for?
whatever the worth is of the car or more
