Where do cars go after they are repossessed?

Answer Repossession of vehicles is an increasingly common occurrence. Repossession of property is defined as a lending institution taking possession of the collateral with which a loan is secured when the... Read More »

Top Q&A For: Where do cars go after they are repossessed

How many cars are repossessed each year?

The number of cars repossessed each year varies depending on the economy and whether people are able to keep up with their payments. According to Karen Aho in an MSN Money article, there were 1.5 m... Read More »

If you own two cars do you have to carry the same auto insurance on both cars even if both cars are in your name?

You can have ins on both car with same ins polictyAnswerYes, You need both cars insured. the vechicle can be added to your policy.

What happens after a car has been repossessed?

After a car is repossessed, several things could happen to the vehicle. If the borrower who defaulted pays the past due obligations, the vehicle could be returned. If not, a vehicle may be resold t... Read More »

What Happens to Repossessed Homes?

Homeowners who default on their mortgage loans may face repossession of their homes. Once the foreclosure process has begun, a home is sold at public auction to satisfy the terms of the loan.