If your car was repossessed voluntarily sold in auction for over 5000 dollars why would the finance company still want an amount over 10 thousand dollars?

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1202262

2026-04-14 16:20

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OK, you signed a contract agreeing to pay ABC lender "X" dollars per month for "X" months. That = "XXXXX.00" dollars.Lets say $20000.00 for even numbers. You paid them 3000.00, the car sold for 6000.00. That's $9000.00 that has been applied to that account. But that leaves $11000.00 still due on that contract that you agreed to pay. They likely got a judgment for that amount and will now proceed to collect that judgment. Good Luck

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