How about a 2000 Volkswagon Jetta, price value of 9000 dollars.
2006-08-07 07:43:37 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
If you had your car reposessed and want to know if it will sell for market value, the answer is no. The buyers and reposession auctions are buying unknown, undriven vehicles and they will sell accordingly.
If you owe a significant amount of money on the car, expect to get a bill for the balance after the auction.
2006-08-07 07:51:10 · answer #1 · answered by jasonsprouse 3 · 0⤊ 0⤋
My 1995 Ford Explorer was repossessed and sold at auction 2 years ago. The loan plus the interest (they never lose interest) was $26,000. They sold my truck for $2,500. Yes, two thousand five hundred. There was nothing wrong with the truck. It was a voluntary repossession. Now I cannot get a house loan unless I pay the balance. I hope you have better luck.
2006-08-09 11:11:56 · answer #2 · answered by Debi 3 · 0⤊ 0⤋
it sells for what someone that doesn't know it -is willing to pay for it ------in most cases any vehicle that is reposesed ---is worth less than what is owed on it--------if it was worth more than is owed on it --you could sell it on the open market and recover what is owed on it -----that why sometimes you can get a bargan at an auction-but remember -----everyone is at the auction for the same reason ---so know what you're doing before you bid------in almost all cases ----if you are the high bidder -its all yours ----if it breaks on the way home ---you get to keep both pieces
2006-08-07 08:17:51 · answer #3 · answered by whats it worth 1 · 0⤊ 0⤋
Dude its an AUCTION, hello..there is no set price at an open auction
You can have a set opening bid
2006-08-07 07:49:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋