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If you owe $12,000 on the loan, for example, and the lender sells your repossessed car for $8,000, the $4,000 difference — as well as any associated fees and costs — are called the deficiency ...
Ads proclaiming "Government Vehicle Disposal" and "The Repo Joe Sale" are designed to steer buyers to special used car sales events under the pretense they're getting a special deal.
A bank created fake accounts, forced clients into unnecessary car insurance and repossessed vehicles when they didn’t pay. Now it has agreed to $20 million in penalties.
Auto auctions are the most common method of disposing of repossessed vehicles. Repossessed vehicles can feasibly sell for less because the financial institution disposing of them only seeks to offset its losses (also restricted by federal regulations). The condition of such cars may be compromised by lack of maintenance.
The agents in distant cities reassembled the knocked-down cars before sale. To better serve the network of sales dealerships. Ford took direct control of agencies in New York and Philadelphia in 1905 and the following year established company-owned branches in Boston, Buffalo, Cleveland, Chicago, St. Louis, and Kansas City, initially in leased ...
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