Legal Question in Credit and Debt Law in California

Only the difference, if any, between what they sell it for and what you owe - including repo fees, and all other fees and charges involved when you don't pay your auto loan payments when due. So if you owe $10,000 on the car, and they repo it, add late fees, repo fees, auction fees, etc. of $1,934, say, your total debt becomes $11,934. If the auction brings $7,500, you still are legally bound to pay $4,434. If the car is worth $15,000, and it brings $11,000 at auction (they never sell for full value at auction) you are legally bound to pay $934. If it brings $12,000 at auction, they owe you $66.

if the car lender follows the proper steps to sell the car in a commercially reasonable manner, they can try to collect the deficiency balance from you. You have the option of trying to settle with them or filing for bankruptcy.