My question is? If I was to return my financed car back to the dealership because I won't be able to make anymore payments on it , will it affect my credit score?
2007-09-02 15:17:49 · 6 answers · asked by SKY 3 in Business & Finance ➔ Personal Finance
of course and what makes you think he will take it back -- and if he does he will just sale it for what he can and your will owe the difference!!!
2007-09-05 23:45:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
honestly go out and get a second job.
the car is probably owned by a finance comapny so droping it at the dealer does nothing.
if they take it back u'll still owe on it plus fines fees legal fees differnece of what they sell it for and anything ELSE they can shaft u for. in some states they will be able to seize ur wages.
visit daveramsey.com to learn b4 u get hurt.
2007-09-02 22:29:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
YES!
A voluntary repo is still a repo. You will still be expected to pay the difference between what you owe and what they sell the car for.
Instead, SELL IT. Pay off the loan, and be done. It is very likely that you are upside down on the loan and owe more than you can sell it for. If so, you will have to come up with the difference.
2007-09-02 22:26:22 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I think that it depends on the dealership. If they are willing to take back the car and payoff the loan then no it shouldn't affect it. If they are only willing to give you less then you owe then you would be responsible for the rest
2007-09-02 22:22:53 · answer #4 · answered by hedwigreallyrules 2 · 0⤊ 2⤋
yes
2007-09-02 23:38:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It sure will.
2007-09-02 22:34:02 · answer #6 · answered by Judy 7 · 0⤊ 0⤋