help please

[Shenna27]

ey I purchased a 2006 Mazda about 3 years ago. I decide to do a voluntarily repossession on it due to so many mechanical issues and I didn't have the car that long. So now they want me to pay $8500 when they had retrieve there property in good standing and they sold it for $2400. What are my options? And why should I have to pay if they gotten there property back?

 

[quincy]

ey I purchased a 2006 Mazda about 3 years ago. I decide to do a voluntarily repossession on it due to so many mechanical issues and I didn't have the car that long. So now they want me to pay $8500 when they had retrieve there property in good standing and they sold it for $2400. What are my options? And why should I have to pay if they gotten there property back?

If you are located in the U.S., please provide us with the name of your state. Thank you.

 

[Zigner]

Of course, the US state matters.

As to your other question, it's basic math: Past due balance + fees related to the repo & subsequent sale = $10,900.00. Vehicle was sold at auction for $2,400, leaving a balance of $8,500. ($10,900-$2,400=$8,500).

 

[Shenna27]

Hi thanks for the response. Yes I'm in Florida. Is there any option I can do? Cause I don't have money to be paying back on a car I gave back. And plus the living cost in Florida is ridiculous and the job salaries is a joke.

 

[Zigner]

Try to negotiate a lower amount.

 

[Shenna27]

Ok zigner. What would be a fair negotiable price. Because I'm so lost with this process...