What are the chances of being sued for the deficiency on a motor vehicle after a voluntary repossession?
Based upon my experience with automotive repossession (voluntary or involuntary) the chances of the person who lost the vehicle for being sued for a deficiency as to the vehicle itself is remote. Rather, the deficiency with the vehicle will impact the resale amount of the car at auction and will impact the deficiency action on the loan assuming the car sells for less than what is owed.