More to come?

[Loudtoy]

So lets say they sell that Ferrari for $200,000. Does that mean that they will give the previous owner $197,000 from the sale and keep $3000 for the fines?

No it means that if he doesn't pay then the car will go to auction with a reserve of whatever the fine is in this case. How ever if your car is an old heap they will just sell it for whatever they can get for it. $1 reserve.
Wonder if i can find a spare 3k or so lying around - wouldn't mind a 575

[fivebob]

So lets say they sell that Ferrari for $200,000. Does that mean that they will give the previous owner $197,000 from the sale and keep $3000 for the fines?

Yes they are only allowed to recover the fines and any costs of collection, but nothing says they have to try and get a fair price for the vehicle though, just offer it for public sale.

[Emz]

Unless the car has a security over it.
If thats the case the courts will order the finance company to sell it. The sale proceeds will be first applied to the courts costs for towing/storage (if any) then in payment of the loan to the finance company, then the fines, then if theres anything left it goes back to you.
Unfortunatly in my experience (I work for a car finance company and deal with these situations all too often) the sale proceeds are usually never enough to settle the loan account. So you end up with no car, a shortfall on your loan account which you still have to pay back to the finance company, plus you STILL owe the fines.