No, you'll be * 1) considered a credit risk since you didn't keep up the payments on the car loan. * 2) have no collateral for the new loan
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
The second to last sentence should read - Never will a voluntary repossession cost you MORE than a forced repossession. A repo is a repo. Voluntary Repos will, in most cases, save you money due to the cut in fees associated with the repossession. In some cases these fees will not be any less and the cost of a voluntary repo and the cost of a forced repo are the same. Never will a voluntary repossession cost you less than a forced repossession. Either way, voluntary repossession is the decision I would make, due to the possibility of a lesser cost.
NO
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
Yes, there is no difference. A repossession is a repossession.
neither looks good on your credit.
Yes, but perhaps not as adversely as an involuntary repossession.
what are the legalities of voluntary vehicle repossession
a voluntary repossession is where you turn over the vehicle instead of us having to come get it from you. www.aerecoveryandtowing.com
YES, on a CR, a repo is a repo.
7 years.
What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.