If a car gets repossessed,

Question

does the person who had the car have to pay off the difference between what is owed and what it sells for at auction?

Answer 1

Yes, in addition to late fees, legal fees, recovery fees, and anything else they can legally make you pay for.

Answer 2

yes,

Answer 3

yes, as well as repo fees and reconditioning fees.

Answer 4

depends on what state you live in.

Answer 5

Yep!!!   I had a 92 nissan get repossessed,I owed $9,100 on it,it was sold for $5,400 at a auction...The remaining balance was owed by me,I never paid it...By the time 99 came around,I was being sued for almost $10,000 over this truck...I had to claim bankruptcy over it..I would have cut it up and sold it for scrap metal,if I knew this would happened...This was a voluntary surrender also.I was told it would not even affect my credit...yeah right.