I had a car on finance and due to financial difficulties had to give it back to the finance company.

I had an agreement with the finance company to pay a small amount every month until the outstanding balance was settled,

The car was then sent to auction and the amount it was sold for was deducted from the amount i owed.

As it was a secured loan on the vehicle do i still have to (by law) pay the outstanding balance ?

I had a car on finance and due to financial difficulties had to give it back to the finance company....?

Auto finance is what I do for a living and the answer to your question is yes you still owe the remaining balance.

Be very careful, if you do not pay the lender they can take you to court and get a judgment at that point they can attach bank accounts, garnish wages (if your State allows it) and file liens on any other property you may own like cars, boats, land and homes.

If it goes this far, the judgment will show on your credit on top of the repossession for the next 7-years making it almost impossible for you to get any other type of loans without making large down payments, fees and State maximum interest rates.

I had a car on finance and due to financial difficulties had to give it back to the finance company....?

Yep. Sorry.

I had a car on finance and due to financial difficulties had to give it back to the finance company....?

Sorry, but yes you do...

I had a car on finance and due to financial difficulties had to give it back to the finance company....?

Unfortunantly you still have to pay the remaining balance

Here is a website you can check out to clear up any other questions

I had a car on finance and due to financial difficulties had to give it back to the finance company....?

Yes, but that%26#039;s not the worst part. The worst part is that you%26#039;ll have that on your credit for 7 long years. Ug.

A lesson to folks in a similar position - you%26#039;re better off selling the car for whatever you can get, before they come and take it.

I had a car on finance and due to financial difficulties had to give it back to the finance company....?

Yes you are still liable for the balance. The finance company will want its money back any way it can. All selling the car does is reduce their exposure. You have to turn these things round every time.