Car repossession

beth74

My daughter had her car repossessed after falling behind with payments, I dont understand why she's still paying for a car she no longer has. Surely if they resold the car they are getting the money for it twice??

Faith177

beth74 said:

My daughter had her car repossessed after falling behind with payments, I dont understand why she's still paying for a car she no longer has. Surely if they resold the car they are getting the money for it twice??

If it was sold at auction it probably raised a lot less than the value so the amount she has to pay it probably the difference between what she owed minus the money raised at auction plus any fees they have added

elsien

Did she not get any paperwork explaining any amounts still due?

born_again

beth74 said:

My daughter had her car repossessed after falling behind with payments, I dont understand why she's still paying for a car she no longer has. Surely if they resold the car they are getting the money for it twice??

When?

mattyprice4004

They won't have got anywhere near retail value for it, and as the name on the contract she's responsible for the shortfall. 
You can't just give something back with no comebacks - it's worth less than when it was new, and there's costs associated with the repossession she needs to cover too. 

shaun_from_Africa

I would have thought that once the car has been repossessed and is either back with the lease/HP company or has been sold at auction then the original contract would have been cancelled and no further payments taken.
I know that any shortfall and associated costs would still be owed but surely this would be a separate matter which would have to be pursued via legal action.

born_again

shaun_from_Africa said:

I would have thought that once the car has been repossessed and is either back with the lease/HP company or has been sold at auction then the original contract would have been cancelled and no further payments taken.
I know that any shortfall and associated costs would still be owed but surely this would be a separate matter which would have to be pursued via legal action.

Maybe she has never cancelled the DD and they are still haply taking funds