I financed a vehicle a couple of years ago with Auto Buy Credit but had to return the car due to job loss. They say I owe a remaining balance of $3,666 after the car was sold in an auction but I spoke with people I know personally and they said its not something they should be charging me for and its effecting my credit. I need clarification on this.
Look to your financing agreement which should advise if the car has to be sold at auction due to your default that you are responsible for any shortfall.
You signed a contract. It sounds like you owe the money from what you have stated. Take the contract to a lawyer. You returned the car because you couldnt afford it anymore. This is not the sellers fault. Talk to a lawyer in person.
This response is only a basic answer to your question and is not intended to be legal advise. It is your job to hire an attorney and to discuss the specifics of this question with him or her. I am not giving you specific legal advise and there is no attorney-client relationship created by my answer to your question. The choice of an attorney is an important decision that you must make and that choice should not be made upon adverting alone.
You could try to negotiate a discount.
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