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When you voluntarily surrendered your vehicle for repossession, you signed a voluntary release form. The probability of you redeeming your vehicle is extremely remote now. It is possible that if you attend the auction where it is being sold, you may be able to repurchase it though.
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∙ 14y ago
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You live in Florida you bought used car with an APR of 16 high monthly payments you have had the car for a year and you can not afford payments anymore Without ruined credit how can you get rid of car?
You have to sell the car. If you give it back, it will still look as a repossesion...a voluntary repossesion. You do not want someone to take over the payments,as there is no guarantee that the payments will be made on time. Sell the car or try to refinance the balance, it is the only way. Good Luck..
If I take my car back to the bank that financed it will they process it as a repossesion?
Yes because that is what it is.
When repo man hits another car when repossesion a vehicle?
when repo man repossess the car and was in an accident before you can get it back, what happens
Is There a certain way you can park your car to stall the repossesion of your car?
park in a locked garage
If a car is out for repossesion and stored in a garage but never driven can the repo man get legal orders to take the car from the garage?
Yes but it is costly and time consuming.Why don't you just give it back?
How do you get your tag back after a car repossesion?
Contact your lender and they can tell you what company has possession of your car. If you contact the repo company, they will let you make an appointment to come in and get any items that had been in the car, as well as the tag. There is generally an inventory fee for this, around $25-50. They may also require you to give them the key to the car. Good luck.
What to do about North Carolina car repossesion?
Deal with it. You failed to pay that note, the finance company reclaimed their car.
Can i be arrested if you don't return a car in repossesion?
Yes. You can be charged for auto theft, and you can be jailed.
Can you cash an car insurance check that is made out to you and the people that you got the car from after they came and took reposseion of the car?
yes, because if you bought the car and they took repossesion of the car, then you should be able to get your money back so yes you would have to cash out a check for how ever much you paid for the car.
What is the penalty for giving a new car back to the creditors because you can't afford it and really do not like it?
Your credit score will go down. Answer. This is known as a voluntary repossesion. It is not very different from a involuntary repossesion. You will ruin your credit score and also will not be eligable for other auto financing anytime in the near future (if you do get approved for another vehicle in the next few years it will be at a ridiculous intrest rate... Like 26%) the best bet is to talk with your dealer to try and back out of the deal or to sell the vehicle you are dissatisfied with. Your credit history will probably indicate a reposession..this lasts for at least 7 years. The creditor may also sue you for any defeciancy balance once your car is sold at auction. It can be very difficult to attain auto financing once this happens.
What happens if you do return a car after purchase?
If you try to return a car that the dealer does not agree to take back you may indirectly enter into a voluntary reposition. Be careful this is when you better read everything before you sign and get copies of everything you do sign.
Whats worse voluntary car repossessions or regular car reposessions?
It's the same on your credit, However it will save you money on repossessions fees if you voluntary Take the car back, because the Lender or finance company wont have to send out a repo. team to recover the car witch cost a lot of money and time. The repossessions will look about the same on your Credit, However it best to voluntary give it back, Because if you cant pay fo it then the right thing is to give it back to the Legal owner! It's the same on your credit, However it will save you money on repossessions fees if you voluntary Take the car back, because the Lender or finance company wont have to send out a repo. team to recover the car witch cost a lot of money and time. The repossessions will look about the same on your Credit, However it best to voluntary give it back, Because if you cant pay fo it then the right thing is to give it back to the Legal owner!
