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.
 

 

11 years ago. Rating: 2
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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. 

11 years ago. Rating: 2
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