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Who owns the car after it is repossessed?
It would go to a car auction and sold on to a new owner and may be sold for a price much less than it is worth
What is the most expensive collector car sold at auction?
A vintage Bugatti sold at auction in California for about $30 million.
How long does it take for a car to be sold at auction?
Frequently it takes from 1 till 14 days auction time. The car is sold till the days, which is set from the seller, are not over. Also the car is sold only when the reserve price is reached. When you go to an online car auction there you can see the time, how much remains.
Does a repossessed car have to be sold at a public auction?
NO. It can be sold any way the bank wants it to be sold
What is the most a car has ever sold for at auction?
The highest price ever paid for a car at auction was $11 million paid for a 1931 Bugatti Type 41 Royale Sports Coupe sold by the auction house Christie's in 1987.
My Car was repossessed what do I owe the bank?
They will auction the car and you will have to pay the difference of what you owe and what the car sold for.
Can the loan co. who repossessed car tack on interest after car is sold at auction?
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An example of a compound sentence using the word sold?
"We went to the car auction and we sold our car."A compound sentence is any sentence composed of two independent clauses joined by a conjunction. Here, the two independent clauses are "We went to the car auction," "we sold our car." The conjunction is "and".
What happens to auction cars that are not sold?
They can renew their auction any time they want...Untill they have a final bidder who will win the car!
Can your wages be garnished for a car that was repossessed?
Yes, if there was a deficiency balance owing after the car was sold at auction. Your creditor would have to sue you and obtain judgment in order to garnish your wages.
What is the name of an item sold at an auction?
Car Furniture Artwork House Jewelry
Can a bank repo your car sell it and still say you owe the full amount of the loan and how do I prove they sold the car?
i believe they auction the car off... the remaining balance, you would have to cover and any fees, like cost of Towing the car off your lot. storage fees for keeping your car and so on.. so lets say that you owe $17,000 on the car and they auction it for $5,000. that means you would owe the bank $12,000.. they will notify you that the car has been sold.. I'm not sure, but you can always see a copy of the papers of the car sold, but i doubt that would work since it would have private info of the new buyer... you can have them send you a letter with the a list of the fees and how much the car was sold for. hopes this helps..
