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Auto Repossession

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mperry708

Junior Member
What is the name of your state (only U.S. law)? LA

In June of 2006 I purchased a car for $12,563. 28. They repossessed it October of 2008 with a balance of $7,475.18 left. They sold my car for $590.00 at the auction. They told me I owe a balance of $5,000.00. Is there anyway I can avoid this? They know the car wasn't even worth that much. I am not trying to get out of paying for it, but I let them take it back because it was a piece of crap and they wouldn't fix it.

~Thank you.
 


Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? LA

In June of 2006 I purchased a car for $12,563. 28. They repossessed it October of 2008 with a balance of $7,475.18 left. They sold my car for $590.00 at the auction. They told me I owe a balance of $5,000.00.
Then they are being generous. They COULD have asked for much more.
Is there anyway I can avoid this?
Try to negotiate a lower amount. You WILL have to pay something.
They know the car wasn't even worth that much.
Not their problem
I am not trying to get out of paying for it, but I let them take it back because it was a piece of crap and they wouldn't fix it.
What in the WORLD makes you think that the finance folks are obligated to fix your vehicle?

~Thank you.
You're welcome!
 

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