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I assume you bought it on payments, You can return it, BUT, That is called, Voluntary Repossesion, That is as bad for your credit as A regular repo., I suggest you sell it and pay the bank, Or, talk to the bank to see if they will take it back without giveing negative report, THIS IS HIGHLY UNLIKELY, But they can not report you for asking, If not, ask if they have A lot where they put their repo's, If so ask if you can put it there and continue making payments until it sells,,,,,, Your last option to get rid of car and still keep your credit score is,(ALL this is the question, I am not going from A question to A statement)>>>> Ask if you can get A personal loan and sell the car for what you can get,,,,,,,,,, Why would you do this? This is why>> You bought the car, Its worth $5000.00, You owe $5800.00, everyone offers $4800.00 for it, There is A $1000.00 gap to fill, You do not have A grand in cash, but you really want to get rid of car, You borrow the thousand from the bank and sell the car, give the $4800.00 to the bank, Now you have 12 payments of about $94.50 A month, You can handle that payment, and keep your credit too.,,,,,,,,,Good luck, Jamison.,,,,,,
What else can I help you with?
If a bank repossesses a car do they have to return it if you file Chapter 7 bankruptcy?
No.
Can you return a used car purchased from a dealer?
A car bought from a dealer is usually financed by a bank they want there money not the car back
Can you return a new car in Ohio?
You cannot return a new car in Ohio. You can contact the bank and tell them you don't want the car and cancel financing but you could still be stuck with the deal you signed with the dealer.
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 happens if you pay the cost of repairs to a car which cost more than the car is worth but now can not afford to pay for the car and return it to the bank?
The bank will send the car to the auto auction, sell it at wholesale value or less, and you will be responsible for the difference between what the bank received from the wholesaler and what is left on the loan.PLUS, your credit will be damaged.
If you made a car payment for a friend facing repo and who ended up in jail is there any way to recoup the money from the bank in return for the car?
The laws on this will vary by state, but the chances are unlikely that the bank would be legally required to return the money to you. You will need to look to your friend to get your money back.
Do you have to return the keys to your repossessed car The bank says they cant sale the car without them?
they have the title they can just pay 50-150 for a new one.
Is it consider a repossession when you return a car to the dealership because you cannot afford it but you are current on all the payments of the bank loan?
YES, it will be called a "voluntary" repo, but its still a repo. Is there any way you can SELL it?? Why would you return it to the dealership? They have nothing to do with this. The bank holds the note and as such partially own the car until it is payed off. Talk to the bank and work this out. Your credit will be damaged if you return the car and default on the loan. Just too add the bank actually holds the title so any private sale would have to be approved by them.I would not let the lender know you cannot afford the car just yet.Try to sell it on your own.If you turn the car in you are not really helping yourself.The bank will still charge you to store the car and the auction and prep fees.The bank auction is private and your car will go below wholesale sometimes way below and the banks don't care because you pay the difference.Do you have insurance?
Can they take a car for repossion off someone else property?
Depends on the state you live in and their repossession laws. If you are smart you will return the car if you are unable to pay for it. The car belongs to the bank until it is payed for.
In Washington state how long do you have to return a car?
You need to be more specific in your question. Return a car to a dealer, return a leased car, return a borrowed car to a friend, return a rental car?
If the car dealer misleads you car you return a used car?
No, you can not return the car.
Car and you wanted to return to the bank and they did not want it back what can you do?
Hopefully sell it for more than you owe on it then pay it off and pocket the difference.
