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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. But the ...
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.
Various objects can be repossessed, including boats and aircraft, but most repossession agencies focus on car repossession. The repo agent normally uses a tow truck or pickup truck with a special towing attachment called a boom. They also may obtain the key from the car owner. Usually, the vehicle owner must be notified of a repossession.
Learn about long-term car loans, their pros and cons, and whether an 84-month car loan is worth it based on your financial situation and car-buying needs.
The position of "Commissioner of Public Safety" was first created in 1938, with the establishment of the Mississippi Highway Safety Patrol. [4]The Department expanded in the early 1970s, when the Bureau of Narcotics was established in 1971 to conduct specialized enforcement and carry out investigations into the abuse, trafficking, manufacturing, and mishandling of controlled substances. [5]
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