debt  loans


Question by  Ric (16)

What can you tell me about a voluntary repo?

I can no longer afford my car and would like to do a voluntary repo.


Answer by  maber (1427)

You can just call the loan handler and tell them you wish to surrender the car and they will help you release possesion of the car.


Answer by  hulmer (1067)

The only main difference between a voluntary/involuntary repossession is that you won't incur fees for having your vehicle towed by a repo company.


Answer by  John (9008)

You give your car to the lender. It saves you repossession charges, but you may still owe if the car cannot be sold for enough to pay off your loan.

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