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    what happens if a tow yard auctions my vehicle for more than the tow bill

    a tow company sold my 2000 ford f150 for $2000.00 and the impound bill was $800.00 how do  i get the $1200.00 that is owed to me

    0  Views: 745 Answers: 2 Posted: 7 years ago

    2 Answers

    So, it would have cost you $2800+ to get the truck out of impound and you say it was sold for $4000?  
    You are forgetting the DMV and police charges that went along with that impound.  It is crazy expensive to have your vehicle impounded.  Two of my sons were becoming pros at it. 
    Consider it like a pawn shop experience; you don't claim your property, it gets sold for whatever the pawn company can get for it.  I don't think you have any recourse; of course, your state may be different than mine.  (I'm going to check on my state, CA, right now).
    "" 
    This is what California law says regarding sale of a "forfeited" vehicle:
    The proceeds of a sale of a forfeited vehicle shall be disposed of in the following priority:


    (1) To satisfy the towing and storage costs following impoundment, the costs of providing notice pursuant to subdivision (e), the costs of sale, and the unfunded costs of judicial proceedings, if any.


    (2) To the legal owner in an amount to satisfy the indebtedness owed to the legal owner remaining as of the date of sale, including accrued interest or finance charges and delinquency charges, providing that the principal indebtedness was incurred prior to the date of impoundment.


    (3) To the holder of any subordinate lien or encumbrance on the vehicle, other than a registered or legal owner, to satisfy any indebtedness so secured if written notification of demand is received before distribution of the proceeds is completed. The holder of a subordinate lien or encumbrance, if requested, shall furnish reasonable proof of its interest and, unless it does so upon request, is not entitled to distribution pursuant to this paragraph.


    (4) To any other person, other than a registered or legal owner, who can reasonably establish an interest in the vehicle, including a community property interest, to the extent of his or her provable interest, if written notification is received before distribution of the proceeds is completed.


    (5) Of the remaining proceeds, funds shall be made available to pay any local agency and court costs, that are reasonably related to the implementation of this section, that remain unsatisfied.


    (6) Of the remaining proceeds, half shall be transferred to the Controller for deposit in the Vehicle Inspection and Repair Fund for the high-polluter repair assistance and removal program created by Article 9 (commencing with Section 44090) of Chapter 5 of Part 5 of Division 26 of the Health and Safety Code, and half shall be transferred to the general fund of the city or county of the impounding agency, or the city or county where the impoundment occurred. A portion of the local funds may be used to establish a reward fund for persons coming forward with information leading to the arrest and conviction of hit-and-run drivers and to publicize the availability of the reward fund.

    I know you don't feel like reading all of that, so, to sum it up, you will not be entitled to any of the "excess" proceeds.
     


     

    renner.becky

    the total bill for impound is $800.00 and they sold it for $2000.00. that's $1200.00 over the impound fee
    Bob/PKB

    I'm sorry; I read what you wrote wrong. Do read the stuff I posted about where the money goes. It is really specific about where the money goes; there are no proceeds that go back to "you". :(
    ROMOS

    Excellent answer P.
    bulletman

    Ditto, Romos.

    I just recently sold my Storage facility, but when I did auctions there are guidelines you must follow set by your state. If you are lucky enough to get more for the goods than the bill that was owed, then the extra is yours to keep. Be mindful of the fact that the business owner has had to incur expenses such as hiring an auction company to do the sales and paperwork that needs to be sent to the owners by certified mail and newspaper ads that need to be posted, in order to do the auction itself. This all takes time and money and is part of doing business. Paying bills is the best way to avoid anything going to auction. 

    Bob/PKB

    Impound is very different from storage, witchway. The vehicle is absconded from the driver (often for DUI, driving with no license). It isn't a mutual transaction,and renting a storage unit is a voluntary choice; having one's vehicle impounded is anything BUT. Selling from an impound lot isn't an auction. Prices are put on the vehicles and that's that. First come, first served. I bought a car from an impound lot once, fixed it up and sold it for a small profit. I've bailed vehicles for my kids (on their dimes and my own), and believe me, there is nothing jolly and exciting about it. An auction can be thrilling; impound..never.
    witchway

    Thanks for the info Bob. Believe me, auctions aren't a picnic either!
    Bob/PKB

    I can't imagine that it was a whole lot of fun, witchway. I hate to give up my stuff, and it would be difficult to watch it go at auction. The kind of auction you are talking about seems like preying on others' hardships, and I don't like that. Yard sales, while "interesting", bother me because someone is always trying to get you to GIVE them your stuff. We are an odd lot, we humans.
    witchway

    Bob, you have no idea how difficult it was to do an auction of peoples goods. It is absolutely heart wrenching. I only did one auction in the 28 years we owned the Storage facility because the buyers requested that we do so before the sale.
    Bob/PKB

    It had to be hard for you; nothing about you suggests an auction like that is something you would look forward to doing. You always seem like the person I would want living no more than three doors away.
    witchway

    Thanks and I would enjoy having you as a neighbor as well. Just so happens that there is a house four doors down for sale. Check it out! Bevinhouse.com
    Bob/PKB

    Will do! There are a couple condos available here, too. But I wouldn't wish Fresno on anybody. G'night!
    Bob/PKB

    OK, I had to check out the house, and WOW, what a gorgeous home. I love all the different colors of the bedrooms, and especially love the library and music rooms. It would be amazing to live in a home so beautiful...and with a heated pool on top of it!
    It is slightly out of my price range...about $800,000, but maybe I'll come for a visit someday...I could sleep in the barn. :)
    witchway

    I have a guest room - anytime Bob!
    Bob/PKB

    Likewise! :D


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