0
If you can't afford a car any longer is it best to take it and turn it in or let them come and pick it up.?
Wiki User
∙ 9y ago
It's slightly better to take it and turn it in. This is called a voluntary repossession.
It's still a repossession and will show up as such on your credit report, but you'll save a little bit of money (typically $300-500), since the lender won't have to hire someone to go out and take it, and they are entitled to try to recover this cost from you.
Another advantage of a voluntary repossession is that it gives you some control over the exact timing. If you just start missing payments, they could come get the car at any time, which may leave you stranded somewhere unexpectedly. If you call and inform the lender you're bringing the car in on Saturday morning, they're likely to say "Okay, that works for us," and this allows you to plan for a means of transportation home instead of having to scramble to come up with something on short/no notice.
Finally, you probably will realize you can't afford the car some time before you actually are forced to miss a payment. A repossession alone looks marginally better on your credit report than a history of late/missed payments followed by a repossession.
The best option, assuming you have time to do it, may be to sell the car or trade it in on a cheaper vehicle. If the value of the car is less than what you owe, you'll have to come up with the difference yourself, but this is by far the best for your credit score, since it doesn't count as a repossession but as a payoff (which may even improve your credit).
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
How much would it cost to get Leonardo DiCaprio to come to your birthday party?
you cant get him to come to your party. But if you tried it probably afford more than a mansion.
Where can you find the best tasting pizza?
no you cant because the police will come and kill you.
How does the economy effect small town businesses?
People arent buying as much because small businesses cant afford to advertise low prices when large businesses like wal mart target or kmart can advertise so they get more people to come and small town businesses cant afford to pay there workers and everything goes bad
What is the best way to remove genital hairs?
I think the best way to do it is to go and get it waxed. It will take longer for it to come back.
If the white blood cells cant stop invadind pathogens what can?
Nothing. You will no longer have a strong amune system and any viruses can come in, basically you have AID's
What is it called when you come up with a smart response to a earlier statement but is no longer prevalent and cant be used?
L'esprit de l'escalier better known as staircase wit?
Why can't people afford dogs?
Some people can't afford to feed them, but the animals themselves can be come by cheaply.
We live overseas in Australia and our family want us to come home to Europe to get married but we can't afford it.We want to have our perfect wedding without upsetting them.what should we do?
talk to your family tell them that you cant afford it and then ask them if they can send some money over seas but first see how much money you can spend on it and ask them to send the rest of the money that you need. or ask them to come to Australia instead
When you will come to India?
When I can afford it. I would really like to go.
Why cant DNA travel to the cytoplasm?
it cant come out of the nucleus
I can't come?
no u cant come anywhere
How can I keep my house even if I can't afford to make the payments and pay for home improvements and pay for insurance and taxes?
This may come as a shock...but one doesn't just have a right to have things they want...and they should expect major disappointments if they think others should give it to them. But it's a rhetorical, self answering question. You can't afford to have what you can't afford. So, when you find out how to afford what you can't afford, as that trick would be worth billions, you would be able to afford it! Otherwise...begging, stealing or marrying the money is your best alternative.
