The repossession agent recently repossessed your car for failure to make payments. You still owed $10,000 on the loan, but since it was always needing repair, you were glad to get rid of it anyway. The bank sold the car at a wholesale auction for $6,000. The bank also paid the repossession agent $350 and paid attorney fees of $500. Based on the deficiency payments clause in your vehicle loan, what are you liable for paying?

Answer rating: 100% (QA)

Solution The deficiency clause states that the lender is able to ... View the full answer