I need to hand in my car because I cant afford it anymore, unfortunately the finance company wont let me make smaller payments %26amp; I cant argue with them.
Please Help!
What needs to be done when you cant pay for your car anymore %26amp; you want to hand it in? Does it affect credit?
Yes, it still shows up as a repossesion on your credit. Also, If the bank does not get the full amount when they sell it or auction the vehicle, you are responsible for any balance still owed to them.
What needs to be done when you cant pay for your car anymore %26amp; you want to hand it in? Does it affect credit?
That is called a volutary repo. Yes, it effects your credit. Perhaps you could find someone to take over the payment for you and sell them the vehicle on time.
What needs to be done when you cant pay for your car anymore %26amp; you want to hand it in? Does it affect credit?
IF YOU TURN IT IN IT WILL SHOW AS A RE PO ON YOUR CREDIT BUREAU ID TRY TO REFINANCE AT ANOTHER LEANDING PLACE BEFORE I LET IT GO
What needs to be done when you cant pay for your car anymore %26amp; you want to hand it in? Does it affect credit?
Yes, you can turn it in to them, but it does affect your credit and what is worse if they sell it for say $5,000 less than what the lien is for, they will come after you for that $5,000.
Try to sell it even if you can%26#039;t get full price. Then take the cash to them and either try to settle the debt or get them to convert the part you couldn%26#039;t pay.
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