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I bought a 2000 model s10 back in 2000. I payed almost 11,000$ on this 19,000$ truck before it was repoed in early 2003 right before income tax. Three days later I received my refund and called GMC to get the truck back and they wouldn’t let me get it. About 5 months later they sent me a letter saying the sold the truck for 4500 and that i owe the difference. How is that?

3 Responses

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1. 

   Raider3

   Why did you call GMC to get a chevy truck back? Why don’t you call Chevy?

   Oh and usually the bank or whoever you financed your car with, repo’s the car, not the Manufacturer.

   July 30, 2010 at 4:46 pm
2. 

   kelly_f_1999

   had a loan didnt pay it
   they took it
   sold it for what they could get
   then you pay rest of your loan to cover their lost
   how it works ……you didnt pay loan you stil owe money

   and to top it off might never get another one so you be buying used car for a long long time

   July 30, 2010 at 4:58 pm
3. 

   PMack

   Because when they repossessed it you owed more than it was worth, so you are liable for the deficit. That is your problem, not GMAC. This was clearly written in your loan agreement that you signed, by the way.

   Why are you asking a question about something that happened seven years ago?

   July 30, 2010 at 5:14 pm

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