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Repossession

How do you voluntarily let your car be repossessed?


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Wiki User
2015-07-16 19:24:53
2015-07-16 19:24:53

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.

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

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

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A car can still be repossessed if it has scratches or some slight damage. The current value of the car is normally used when netting off the debts.

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It would look better on your record (For future loans) if you turned in the RV voluntarily.


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