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Question 4 (1 point) The Repo Man recently repossessed your car for failure to make payments. You still owed $5,000 on the loan, but since
Question 4 (1 point) The "Repo Man" recently repossessed your car for failure to make payments. You still owed $5,000 on the loan, but since it was always broken, you were glad to get rid of it anyway. The bank sold the car at a wholesale auction for $3,000. The bank also paid the "Repo Man" $200 and attorney fees of $300 for the legal paper work. Based on the deficiency payments clause in your loan, what are you liable for? U a) $0; repossession means the bank must "eliminate the debt b) $500 C) $2,000 d) $2.500 e none of these
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