Due to financial issues they need to sell the car asap but they still owe $14,000 to the bank. Can anyone tell me if they should let the bank reposes? The car needs a lot of work and the dealer offered very little money, Can anyone give me advice on how to handle this situation.
I am assuming you are POA. No one else can willy nilly deal with this. As POA you have the right to expert advice paid out by your parents funds, so I would run this by an attorney for your area with a phone consult if possible.
I have never had to deal with this so have no idea how to handle.
What make and model is the car? If it is a high rated brand, like Toyota or Honda, the remaining balance may not be too bad.(if there is one)