Which is better: the voluntary surrender of a vehicle or to wait to have it repo'd?

Answer by  mammakat (11147)

Do NOT voluntarily surrender without calling and negotiating with the company- it will still show as a repo on your credit. If you voluntarily surrender, make sure you have an agreement in hand that shows the surrender to your benefit- a lot of companies are willing to do this now.

Answer by  tamarawilhite (17883)

The only difference in financial impact is that when the vehicle is repossessed, that charge will be tacked onto the amount owed.