What happens after your car gets repossessed and you can't get it back?

Question

I know the bank sells your car and you have to pay the difference between what you owe on the loan and what they sold it for, but I would like to know the normal collections procedures that happen after they sell your car.

Answer 1

The bank will auction off the car and then you will be responsible for the balance owed after for example you owe 25000 they auction and get 10000 you then would owe the bank 15000 so I recommend strongly that you try to salvage this deal with the bank if at all possible

Answer 2

Generally you will just get a letter in the mail telling you what they want you to pay.

Answer 3

Now would be the time to get a 2nd job and save up a few $thousands.  Then just pay 'em when they contact you.

Answer 4

You ride a bicycle

Answer 5

What happens? You stop doing whatever you did to get your car taken away and get a new one.