Best Answer

call the finance company and tell them that you want to do a voluntary repossession and they will take it from there.

User Avatar

Wiki User

โˆ™ 2007-05-03 22:24:45
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do you call the finance company or just take the car to the dealer if you want to do a voluntary repossession and do you need to inform the finance company you're taking it back or will the dealer?
Write your answer...
Still have questions?
magnify glass
Related questions

How much will a finance company sell a HD motorcyle for after repossession and where will they sell it?

It will be sold at auction at a lower price than the dealer will sell it for.

If a dealership assigns a car to a finance company and the finance company says you don't owe them can the dealer repossess?

If the finance company has been paid in full, then why would the dealership (or the finance company) want to repossess your car? If the loan hasn't been repaid and is long overdue, then the dealer and finance company will probably decide who actually repossesses the car. Either way, it's up to them, not you. Best thing to do is check the fine print in your loan agreement (which you signed when you bought the car) and see what it says about overdue payments, repossession, etc. If you've lost it, call your dealer and ask for a copy.

What happens if car dealer lies to finance company?

who the hell noes that?

Can a dealer suspend your license for a repossession?


What happens when car dealer is misleading customer and finance company?

usually called FRAUD

Is it a repossession when the bank couldn't finance you and the dealer had to take car back?

GOOD question. Read the contract. Were you in default of it?? Why didnt you TAKE the car back? Why did they have to come get it?

Can you return a used car to the finance company in Canada?

Yes, you can return a used car to the finance company in Canada. However, you also can consider returning it to the dealer you bought it from as well.

Can the dealer repossession your car off private property?


Can the car company that repossessed the car keep you from leaving the property?

You're talking about the repossession agent, not the car company or dealer. And no, they have absolutely no authority to detain you. If they try this, file a police report.

Can you return a new car to the dealer because you cannot afford it?

No, you cannot just return it to the dealer. The dealer has nothing to do with this unless the dealer is also the lender. You must return it to the entity who loaned you the money to buy the car in the first place. It is their car until you pay for it. This is called a voluntary repossession. You will be required to pay the deficiency. That is the difference in what you owe on the vehicle and what they sell it for at auction or private sale. Your credit will also be ruined for 7 years. You will save repossession fees by turning it in voluntarily.

Will dealership notify finance company to repo your car if you bring it for service?

Nope. The dealer is completely unaware of your financial situation.

Can you drop off a motorcycle at the dealer if the creditor wont take it back?

If the creditor will not take it back in lieu of the money owed then you need to sale the bike and pay them their money. Unless the dealer is willing to buy the motorcycle you will still owe the money. Not every creditor will do a voluntary repossession.

What should you do if your car is paid off and dealer hasn't given the title?

Contact the dealer or finance company, whoever has the title, and ask them to send it to you. If they refuse, you may have to contact an attorney.

Car dealer forgot down payment?

The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.

Can a car dealer shut your car off if you miss a payment?

That's not going to happen. Unless the dealership is doing the financing in-house, they're already paid for the vehicle, via the loan you took out from the finance company to get the vehicle. It's the finance company you'd answer to re: the payment, not the dealership. Thus far, I've never heard of any such thing happening - miss a certain number of payments, and the finance company sends repossession agents to collect the vehicle. However, it's not beyond the realm of possibility - vehicles with systems such as OnStar can be shut off remotely, and, although I have yet to hear of it happening, it is possible that a finance company could request OnStar disable the vehicle.

If dealer Forgot to collect down payment?

Then he's a total plonker!The finance company will chase you for it, they won't miss a thing, believe me.

Dealership can not finance car do we have to give it back?

find out another dealer who can finance your car.

Can you sue the repo man if he takes the truck after you filed bankruptcy?

(A): "Can you sue the repo man if he takes your truck after you filed bankruptcy?" (B): The answer is "No". The truck is the property of the dealer, or finance company, until your final payment to them is made, and the receiver in bankruptcy may not seize property of which title belongs to a second party (dealer or finance company). Chris

What can some one do if the dealer were he finance her car went out of business and he haven't pay off his car?

There isn't anything you would need to do. You still owe the money and will need to continue paying. A bank or something similar may buy the rest of your loan from the dealership. If that happens it will be their job to notify you.-------------------------------------------------------------------------------------------------It is not usually the dealer which actually provides the finance, it is a finance company that is separate from the car dealer.When you purchase the car and take out finance, the finance company pays the dealer in full what he is owed and you then repay the finance company.If you look at your finance documents closely, they should tell you this.You should therefore continue to pay for your car as you were doing before the dealer went out of business. However, for your own protection make sure that you get a receipt (proof) that you have made each payment. If you are notified in writing to change your payments to a new company do this if the paperwork matches what you had before.If you are in doubt at all, go and see an attorney (lawyer).

If you have been approved Ford credit and want to buy a used car off of a Ford dealer and it is not a Ford will they finance it?

Yes Ford Credit will Finance Non-Ford vehicles. If the dealer told you they won't it may be beause that brand has their own financing company also to go through.

Can a car dealer keep your deposit if I am not approved for finance?

yep, do it!

How do you become an auto dealer finance manager?

The way to become a finance manager is to start as a salesperson and then become an assistant manager and then become a finance manager.

You have a used car that broke down i month after you got it you want to voluntarily repo the car but the finance company doesnt want it because it doesnt run what can you do you owe 1700 on it?

There is no such thing as a "Voluntary Repo". You borrow money to buy something , you owe the money period. If you turn the item over to the bank or finance company it doesn't take you of the hook. The bank or finance company will auction the car and you will still be responsible for the difference in the amount it sold for and the amount you owed, plus handling and fees. Even then you credit is still shot to He-- . It is not the finance companies problem that the car broke down . Your beef would be with the dealer you purchased it from. I suggest you continue to make your payments and work hard to repair the car so you can get some use out of it.

If you are current on your payments can the car dealership who sold you the car repo it or is the bank that is financing the vehicle the only one who can do that?

The bank/finance company. The dealer has already been paid for the vehicle

If you bought a new car and have only had if for 2 weeks with no payments made can you return it to the dealer will it affect your credit score?

You signed a contract and drove it. It is not new anymore. Returning it would be a voluntary repossession and you would probably owe several thousand dollars. Yes, it would hurt your credit.