If the bank repossess your car do you still have to pay your car payments?

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1018775

2026-03-05 15:55

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NO but why would they repo if you are making payments.

You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other Words, let's say you still owe $5000 on your car and the finance company sells the car at auction for $4000. They will eventually contact you and you will owe the $1000 difference.

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