In Arizona do you have to pay the balance in full if your car is repossessed?

I have never lived in Arizona but I am in car sales and am familiar with the law in Tennessee and Virginia and North Carolina I would imagine the law would be similar because of interstate commerce laws.

If a car gets reposessed that has a balance on it from the leinholder the leinholder has a reposibility to its shareholders to recover as much of the risk as possible. What leinholders do is take a vehicle to an auction or private sale and get the most money they can for it. If the amount owed by the individual is $12000 and the financial institution only recovers $8000 it is the responsibility of the debtor to pay the difference of $4000 plus any charges accrued to prpare the vehicle for sale such as tow truck and or auction fees. if the car gets sold for more than $12000 than the former borrower gets the difference because it is still considered their asset and debts.