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What happens if you give your car back to the financer willingly?
Wiki User
∙ 17y ago
This is what's known as a "self-repo". Basically once you stop making payments on a car for a period of time, the financer will soon move to repossess your car. This is as simple as coming and towing your car from your house very early in the morning. The other way around is to call your financer and tell them to come and repo the car because you can't afford it anymore. However, it does not matter if you give it up willingly or not. If you attempt to hide the car, you give it to a friend for safekeeping, you move, you total it, etc, then there are other methods in which the financer can come after you. With that said, a "willful repo"/"self repo" will go on your credit report and would say exactly the same thing as if it was an "unwillful repo". However your credit report will not say how the financer got the car.
Wiki User
∙ 17y ago
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My self sushil srivastava, and present time i am runing a company for which i need financer My self sushil srivastava, and present time i am runing a company for which i need financer
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