Legal Question in Business Law in California

balance due on car repo sale

I voluntarily gave my car back to the bank in 10/08. Car was sold at auction for $6250. Balance of $6975 demanded in 10 days of 12/27/08. Any options?


Asked on 12/28/08, 5:44 am

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: balance due on car repo sale

Three, I suppose. Pay, refuse to pay anything, or offer to negotiate a compromise.

Occasionally, a dealer or lender will fail to comply with the Rees-Levering Automobile Sales Finance Act, Civil Code sections 2981 et seq., but many of its protections have to do with repossessions rather than voluntary turn-backs; however, if you feel you've been treated unfairly, you might want to look for Rees Levering on a search engine and go over its provisions.

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Answered on 12/28/08, 5:16 pm


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