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Liability for Deficiency

Question: If your car was repossessed and then they sold the car, do you still have to pay for the car? The place where I bought the car had it repossessed and then sold the car for what was owed and now they want me to pay for the car after they got it back and sold it. Do I still have to pay?

Answer: Assuming that the sale was commercially reasonable and that all notices were properly given, yes, you are liable for any deficiency.

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