![]() Lenders must sell the car in a commercially reasonable manner, and it can be important for you to know how much it’s sold for. This is known as a “deficiency balance.” Similarly, if the car is sold for more than what you owe, you’re entitled to receive the surplus. ![]() If your vehicle is repossessed and sold, you may be responsible for paying the difference between the amount left on your loan, plus repossession fees, and the sale price.
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