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Bad things, among which is ruined credit for 7 years, payment of the balance left on the note after the bank sells your car. Not good things. Don't do it. Call the lender and work something out.
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∙ 18y ago
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What can a finance company do if you voluntarily give them their car back?
They can keep the money you already paid.
What happens to your credit if you voluntarily have your?
what happens if i voluntarily return my car to the bank due to job loss
What if a payment was never made on a car and now want to give it back voluntarily?
If you signed a loan agreement then giving the car back won't help you.You are bound by the terms of the loan.Read the agreement what happens next will be determined by what that loan says.
What happens if you give the car back to the dealership?
you get a bad record on your credit
Can you get your car back after a repo?
Husband dies, his car left at a friends house, friend would not give car up, car was voluntarily repossesed, can you still get car after a repo? What is needed?
What happens to your credit when you give a car back to the bank?
You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.
Can you voluntarily give back a car just purchased before any money is paid on it?
Check with the dealer where you bought it. Some local dealers in my area will take it back before 30days.
You just got financed for a new car but in order to keep your new car you must voluntarily give your car back to GMAC what should you do?
You can't keep it and return it too, Reword the question and ask again.
You have made all your payments on time but you want to give back your car what do you do?
You will still be responsible for the contract terms regardless of whether or not the repossession is voluntarily done by the borrower or by the lender for default. The exception is, of course, working out some other agreement with the lender, but that seldom happens.
What happens if you lend your car and the person does not want to give it back in Georgia?
Call the police.
How do you return an unpaid car?
If it is too difficult to maintain payments on a car loan, it is possible to voluntarily give it back to the creditor or dealership. In some states, however, a creditor can sue for the remaining balance owed on the loan.
What happens to my credit if I voluntarily give my car back to the bank?
Even if surrendering a vehicle is voluntary, you will still be responsible for the amount owed on the loan after the sale of the vehicle. Most lenders report to the credit bureaus and any unpaid balance will be reported, as will payments made or missed on this balance.
