ANSWERS: 3
  • yes, they can sell the car for whatever they want.. usually it is sold for "wholesale prices" ($2.00 if they feel like it),and charge you the costs of repo-ing and all other costs associated with the repo and the remaining balance (minus the "wholesale price" that they recieved when they sold it.
  • You are still responsible for any outstanding balances owed on the automobile. the lien holder can also go to court and attach any assets you may have, like your home, until the balance is satisfied. Read your contract. read the small print. its there.
  • Yes http://www.daveramsey.com

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