Legal Question in Consumer Law in California

bought car $12,500 down was reposessed and sold for approx 3000 less than paid into and 6000 less than blue book value am in titled to the difference


Asked on 8/31/09, 6:01 pm

1 Answer from Attorneys
Larry L. Doan Law Office of Larry L. Doan

You didn't state how much of the loan you still owe. That's what matters, not the Blue Book value of the car. If the finance company received from the proceeds of the sale less than what your outstanding balance on the loan is, which is usually the case after a repossession sale, they will go after you for what the difference is.

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Answered on 9/01/09, 12:28 am


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