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Is it crazy to consider voluntary repossession of a 10-year-old vehicle that needs a thousand dollars worth of repairs and you still owe about five thousand on the loan?

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2015-07-16 18:11:32
2015-07-16 18:11:32

No crazier than owing that much on a car that old. IF you do the 1k in repairs, will it last until you get it paid off? What is the loan value of the car in decent shape?

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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.

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To round a number to the nearest thousand you first need to consider only digits at place value thousand and greater. In this case, that would be 13,000. The next step is to consider the hundreds digit. If it is 5, 6, 7, 8 or 9 we round up. Otherwise, we leave the number as it is. In this case, the hundreds digit is 2, so we don't need to round up. Thus, 13212 rounded to the nearest thousand is 13,000.

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Very little difference. A repossession is a repossession, whether voluntary or not. The only thing is when all is said and done, and they sell the car and you pay the difference in what the car sells for and the balance on the loan, you will not have to pay the towing and repossession fees. Your credit will be ruined for 7 years either way.If You're Behind On Your Car Payment, Facing Auto Repossession "Repo", Trying To Sell Your Car, No Title... CAR DEBT SOLUTIONS WILL BUY YOUR CAR TODAY!! CASH!!visit us at: car debt solutions dot com or call toll free: (800) 827-4853Contact Us At: (800) 827-4853 or visit http://cardebtsolutions.comDon't Wait Until It's Too Late and Your Car Get Taken Call Us and We Will Buy it Today For Cash...We Have Helped Thousand of People... so If You Owe More then Your Car is worth, Upside Down or Under Water on Your Car Loan Call Us Before You Lose ItCAR DEBT SOLUTIONS visit our website for more Info:Toll Free: (800) 827-4853 website: http://cardebtsolutions.comWe Have Locations All Over North America

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