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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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โˆ™ 2015-07-15 20:44:04
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Q: How do you have your car voluntarily repossessed?
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Related Questions

If you LEASE a car and have it voluntarily repossessed will you still owe money on it?

Yes


How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?

It has the same effect on the credit.


If you have a car voluntarily repossessed can you get another car?

YES, usually you pay MORE down payment and/or higher interest rates.


How do you voluntarily let your car be repossessed?

You need to give the car to the lender - if they are too far away then you need to call them and tell them where it is and ask them how they want to get it.


What happens if you get your car repossessed?

if i get my car repossessed, can they put a llien on the house?


Can you return a car bought on a personal loan when you were told it was on finance?

Have the car voluntarily repossessed. Using this option means that you voluntarily return the car to the finance loan company if you are too far behind on your payments and can't recover. If you decide to return the car, the finance company may pick up the vehicle or it may require that you return the car to its location.


How can you locate your repossessed car?

Your car was probably repossessed by the lender who owns the car until you pay for it. Call your lender and they will be able to tell you how to locate your repossessed car.


If you voluntarily let your car be repossessed by the lender do you still have to pay on the loan?

Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost


What happens if a car was to be repossessed and it didn't happen?

You are lucky. If you cannot make the payments contact the lender and try and work something out. If not voluntarily turn the car in yourself. You will save yourself the repossession fees.


Can your car be repossessed due to no registration?

No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.


Can your car be repossessed if you lose your job?

No, but your car can be repossessed if you don't make the payments.


Can you charge a repossession fee for a vehicle that was voluntarily turned in?

mine was charged, i left the junker at the car dealership and when i finally got sick of paying for a car i hadn't touched for months, they repossessed something they had possession of.


What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?

While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.


Are you responsible for the balance of a loan after the collateral is voluntarily repossessed and auctioned?

YES, read your contract.


What happens in Texas if you voluntarily have your car repossessed and money is still owed after the car has been sold at an auction?

Chris, I dont know the answer to the question YET. I will find out today. Email me latyer on and Ill have it for you. What does the lender "say" they will do???


Can a car be repossessed from a car dealership?

if the car dealership does not pay for the car in full or pay their bills then the car would most likely be repossessed


Can a car be repossessed with a person in the car?

No.


Would you be able to go through a debt consolidator to pay off what you owe on a voluntarily repossessed car?

IF the Lender agrees to it, yes. IF it gets the lender money, they will likely agree.


Can the difference in money owed and value be claimed from you after having a car voluntarily repossessed?

In MOST cases, YES. PS. Its not the "value claimed", its the diiference between what you owe and what the lender sells it for.


When a car is repossessed what do you do with the insurance?

When a car has been repossessed the person paying the insurance should cancel it.


In California are you liable for payments on a voluntarily repossessed car purchased by your spouse prior to marriage if you never used it because you can't drive a manual transmission?

IF your name was NOT on the contract, you're NOT responsible for it. If it was , you are.


Where do you get a car after your car was repossessed?

im sorry you can not


What happens to you if your car is repossessed?

You loose your car...


If a mechanic has a mechanics lien on your car will this prevent the finance company from repossessing your car or prevent you from voluntarily having car repossessed?

No, what will happen is this: the finance company will pay off the mechanics lien (usually) and tack that on your loan balance, it would be considered a repo fee.


What if you give a car back the don't report your creditors?

When you have a car repossessed, either voluntarily or involuntarily, that car will be resold - typically, at an auction. You will still owe the lienholder the amount you owe (plus any associated recovery costs) minus the amount they got for it at the auction.