Re: Cosigner

Posted by lb@ on June 29, 2001 at 14:52:08:

In Reply to: Re: Cosigner posted by Bob on May 24, 2001 at 01:03:55:

. : If the owner still owes $5000 on the loan, but returns the car, and the dealer then auctions it off for $3000, then s/he will be liable to pay the difference, which is called a "deffinciency."
What if the car brings 6500 who gets the extra $1500?

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