LoanTerm


PSA: More banks suing even after repossessing vehicles

Just because your car has been repossessed doesn't mean you don't still owe the bank money on it. If that vehicle gets sold at auction for less than the bank is owed on it, the difference is called the "deficiency." And as MSNBC informs, banks are increasingly suing to get that deficiency amount back, plus applicable attorney's fees. With the increasing cost of vehicles, smaller down payments, and longer loan terms, it is easier than ever to get upside-down on your car loan. Furthermore, banks don't send a repossessed car to auction and work ... Read more →

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Autoblog Podcast #155: 'Twas the night before LA...

Chris, Dan, and Editor Paukert go over some LA Preview action and quietly whoop it up on the podcast.

 
 

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