Ford F-250
Repossession

How do you have your car voluntarily repossessed?

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2015-07-15 20:44:04
2015-07-15 20:44:04

The Correct :

Most Finance Companies make this very difficult.

1)Take the vehicle to the manufacturers nearest dealer for a service appointment. Leave the car there. Remember the Service Reps First and last name.

2)Contact the finance company and let them know what dealership the vehicle is at.

3)Notify the finance company that you would like to have your vehicle voluntarily repossessed and to pick it up directly from the dealer. Reference the Service Reps Name and write down the the customer service reps full name.

4)You can ignore any further attempts to contact you by the finance company or dealership.

5)Most finance companies(in California) will not seek deficiency judgement your credit however will be ruined for 3 years.

The finance company has no reason to work with you if you can no longer afford to pay.

You simply call the finance company and tell them that you are unable to pay for the car due to unforeseen circumstances and make arrangement for them to either pick the car up or ask where you should take the vehicle. I had voluntarily surrendered a car years ago and the Manufacturer made arrangements to pick up the car at my home.

There were fees involved and they actually prorate your loan and you will be charged for a certain amount of the cars value. Even if the car is only 3 months old, it is now considered a used car and the finance company cannot sell it as if it were new....it will have depreciated in value as much as 30%

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