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When you surrender the vehicle, it will be sold at auction. The purchase amount will be applied to the balance owed on the loan, repossession fees, interest, penalties, and transportation costs. If the purchase amount exceeds this, the remaining amount should be refunded to you. If the purchase amount is less than the owed balance, you will still have to pay what is owed. If you fail to do so, the lender may seek judgment against the amount owed. This can increase the balance owed again, due to court costs, legal fees, and collection costs.

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Q: You surrender a car and cant pay what happens?
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