I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

I have my car listed currently for sale but I need to get rid of the payment by next month or so. Are there any options such as surrendering the vehiclefor what the loan amount is, if so can you offer some direction......

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

Do not surrender the vehicle. it will still be counted as a repo.. they will sell your vehicle at an auction and you will still be responsible for the balance on your loan.. they sell them at the auction for very cheap. and make you pay all towing and storage costs. also if you never pay it depending on what state you live in they can garnish your wage for the debt.

Also, a good site is...

http://www.surveyland.org/jump.php?link=...

Have a nice day.

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

just stop paying and someone will be along to pick it up

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

Best you can do as far as that goes is sell it to a dealership wholesale.

You will NOT get what you paid, or anywhere near it, and probably nothing close to what you owe.

If you owe alot less than what the car is worth, you can sell it wholesale to a dealership who will probably offer you 65% of NADA Trade in Value.

Once you buy a car from a dealer, and add in the finance charges, tax, title, etc, you tend to owe more than the car is worth, and definently more than you can re-sell it for yourself.

It's a sad situation to be in with VERY little oppurtunity to get yourself out unscathed.

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

Yes, you can give it back but it is still loan forfeiture. It looks just as bad on your credit report as if you got it repossessed. I would try to sell it until the repo man comes and takes it away from you; or maybe you can call the loan holder, tell them you are trying to sell the car, and in the meantime, make payments Even if it is not the entire monthly payment, you will be given extra consideration for at least making effort to pay, and this might keep the repo man away for a while. Maybe a little way down the road, you might get a better paying job and be able to afford to keep the car, or get lucky and sell the car.

The only other option is to take it to a used car lot, and trade it in on a car that is more affordable. Even if you still owe a lot on the loan, you'd be surprised how quickly a used car lot will take it from you ( get it detailed first, must be perfect inside and out) and put you into a car with a loan you can afford.

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

You need to sell it or at least try.If the finance co. gets the car back,no matter how they got it.It will go to auction then they will come after you to pay the difference.You WILL end up owing something if they get it back.Put adds in the paper and internet.Maybe auction it off on some internet auction site with a reserve of what you owe.

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

You can 'return' the car to the lender, but it is viewed as a repossession, albeit a voluntary one. Unless you never intend to aplly for credit again, I wouldn't reccommend it. Call your lender and ask if they'll defer a payment or two--that is, placed on the end of the loan.

It's a tough time to sell a used car--the market is glutted. But try to avoid surrendering the car.

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

If for financial reasons you have to return the car to the dealership, it still looks bad on your credit. If you wait for the repossession collector to get it, it looks even worse! Besides selling the car and having the new owner/s take over the old payments, you can also attempt to sell it to an automobile wholesales lot. No, you won't get nearly what you paid into the vehicle, yet it will look better on your credit history though.

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

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I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

Hello,my little advice for you is that you should go to a bank to request for, thats if your credit is fair that would be the most suitable means, but if your credit is not that fair, i can only refer you to a company that gives out unsecured loans, not withstanding your credit check. for now they are the only private company i no of that give out loans, because i got a there some few ago, i am sure they can assist you. you can get to them via the email (kingstonloaninc@live.com)

Good luck

I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

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I need to get rid of my auto/loan, is there such thing as vehicle surrendering?

When you surrender your car to your finance company. You will have to face the consequences that come with it. In most cases if you request you car to get picked up there will be fees assesed to your account and the sold at an auction. The car will most likely sell for a lot less than what you owe on the loan and you will be held liable for the balance and get a bad credit mark. Have you called you finance company and asked them what are your options? Questions e-mail me.