Where does the funds go...?

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Where does the funds go...?

After a car sales lien, the funds raised from selling the car, does it go to my finance company or does it go somewhere else? So if i owed $20,000 to the finance company, but the car sales lien raises $18,000, would i still be responsible to my finance company for the whole $20k or 2k?

2006-10-30 17:12:55 · 2 answers · asked by NIKFAY 2 in Business & Finance ➔ Credit

2 answers

on a repo sale youre on the hook for the balance of the note.

2006-10-30 17:17:01 · answer #1 · answered by David B 6 · 0⤊ 0⤋

It actually is interest.

2006-10-30 17:15:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋