How should I surrender my car?

Answer by  KWags1977 (427)

When the repossession man comes to get your car, don't act like your shocked or going to fight the guy to keep your car. You know you did not make payment on it, hand over your keys peacefully and then contact the company that issued you the loan. Make arrangements with them to get your car back.

Answer by  Specificity (27)

You can contact your lender directly, the collections agency if you are past due, or simply wait and they will contact you at home or work and arrange pick up.

Answer by  JoetteB (62)

Completely remove all personal property. If you have already been contacted by a repossession agent, contact them and make an appointment. If not, contact your bank collections or loan department.

Answer by  bb (674)

check with the finance company to see if they will work with you. good communication is always best when dealing in this type of situation.

Answer by  LeheckaG (1826)

Make sure you receive detailed RECEIPT(s) for voluntarily-surrendering your: car, keys, license/plates/registration, & title; over to either your-dealer/lender and/or local/state-government. Notify your-state BMV/DMV in-writing/on-their-forms of the surrender/transfer. Obtain a clear/detailed-release/statement showing your: car-loan-balance-owed/remaining, or forgiven. Anticipate negative-impact on your-credit-report. You might receive IRS-Form saying any-loan-forgiveness was "taxable-income".

Answer by  H797H (157)

If being robbed at gunpoint- calmly but very quickly exit the vehicle and make sure to run in a zig-zag pattern away from the gun wielding person

Answer by  sathu (157)

If i will not pay full amount within preferred installments,i should surrender my car to the cencerned "Show room" from where i purchased my car.