Why is this considered legal?

Question

So you have crappy credit and some cheap used car lot leases you one anyway. Then you get to the point where you can't make your payments on time and then you end up "defaulting". They take your car back and auction it for say $1000. AND you STILL have to pay off the car, yet you HAVE NO CAR! Why is that legal? How is that legal? I don't understand. It seems dishonest to me.

Answer 1

It is a shady way they can get money from you. I know it sucks, declare bankruptcy, it will bite them in the butt.