Car impounded and auktioned...what happens?! | ExpatWoman.com
 

Car impounded and auktioned...what happens?!

189
Posts
EW NEWBIE
Latest post on 26 January 2011 - 11:12

The cicumstances are very complicated, not my car just trying to figure out what happens...

Basically it was a car left without registration and fines unpaid so the police picked it up and impounded it.
They owner could not release the car as he could not pay the fines so they auktioned it off.

My question is - does the money from these auktions go to the previous owners????

What would happen if a car with a still existing bank loan was impounded?

Would appreciate some insight on this. Nothing dodgy, just trying to figure out what happened in a case of a friend

384
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EW EXPLORER
Latest post on 26 January 2011 - 11:44
they usually do
2222
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EW EXPERT
Latest post on 26 January 2011 - 11:39
am guessing that as the car was impounded and then auctioned that the government / police would keep it.
189
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EW NEWBIE
Latest post on 26 January 2011 - 11:29
thanks. IF there is no loan then I agree the auktion money surely gets used to pay off the fines. But who gets the rest of the profit??? The previous owner or the police/government???
143
Posts
EW NEWBIE
Latest post on 26 January 2011 - 11:23
The cicumstances are very complicated, not my car just trying to figure out what happens... Basically it was a car left without registration and fines unpaid so the police picked it up and impounded it. They owner could not release the car as he could not pay the fines so they auktioned it off. My question is - does the money from these auktions go to the previous owners???? What would happen if a car with a still existing bank loan was impounded? Would appreciate some insight on this. Nothing dodgy, just trying to figure out what happened in a case of a friend Dont know for sure but i imagine that money most definitely go to pay off the fines.....like a repo man taking goods out of a house if you cant keep up repayments on a loan.... If a car was impounded and it was on a loan, the owner is liable still for the loan....the loan company are not going to care that the owner wasnt careful to avoid such a situation. All they know is you commited to a loan from them so you have to pay the balance....your obligated. however they should be notified if there is a change of owner as technically the loan is secured against the car....if that person no longer has the car and cant pay for the loan the bank cant recover any money as the police would seemingly have already sold it. maybe some of the auctioned money would go to the loan company, but really i dont know if that would happen here? I suggest your "friend" notifies the bank asap.
 
 

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