I took a loan from my bank and used my car as collateral to secure that loan. In order to pay off the loan can I voluntarily give my car up to the bank? I know they can repo it if I dont make the payments and I have been up to now, but can I just give up the car to the bank of my own volition and have the loan be paid off? The amount of the loan was based on the value of the car I used as collateral. I want to get rid of my car anyways and I'm willing to do without one for a while. I live in the city part of chicago so public transportation is universal over here.
2006-06-29
09:23:03
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5 answers
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asked by
vinsthemann
1
in
Personal Finance