The lender will let you know when and where the car is being auctioned. One the sale is complete, you will receive a notice outlining:
The balance of your loan
Any repossession fees
The amount the car sold for
If you still owe the lender money, because they didn’t recoup the full cost of the loan, or if they are sending you a check, because they recouped more money than the balance of the loan.
It’s important to note, if you still owe the lender money after the sale of the car, you will continue to be charged interest that accrues on a daily basis.