Can you let the bank repossess one of your cars?

Answer

Yes, you can voluntarily give up one of your vehicles but still continue the payments on the other. It will, however, affect your credit. No repossession on your credit record is positive, but you can at least provide a better logical explanation to a voluntary repossession than you can a forced one. It does at least show good judgment on your part to make a responsible decision to no longer carry the burden of both cars if it is not reasonable for your budget.

Answer

Heres some truth to matter.I have been doing repossessions for 5 years. To give you a straight up answer...I like this job. Its good money, but I've had my $*@& repossessed before and I know its not fun, especially when youve put alot of money into it. Alot of times finance companies or buy here, pay here lots are happy to assist you in any way possible in getting these vehicles paid for. Banks on the other hand that I've dealt with are not so willing. They want the car paid off after they repo it and thats it...no other choice. Others are just asking you to pay your payments up and not be late again...I myself like those kinds. If you can't pay for the car and you have another one...be kind to us that try to make a living like the rest of you and let us pick it up and let it be peaceful. Whether, you let it go back or not, its still on your credit as a repossession. It just looks better when you've made the decision to give it back voluntarily. But no, when there is a breach in peace, you do not have to give these vehicles back. After so long, they write these off and it'll be on your credit and you'll probably get garnished for it and pay for it anyway. The only problem is watching for that repo person. They will catch you at the grocery store and snatch it up and that's it. I personally, like to talk to these people and let them get their belongings out of the car and tell them their options. I know when someone takes your vehicle in the middle of the night and takes your kids car seats and your other personal things...it makes you quite mad to wake up in the morning and see your vehicles been jacked. That's why I try everything in my power to talk to these people before the vehicle is taken. Just remember this people, we do this for a living and trust me, yes we like this job because it pays good, but on the other hand...we dont like taking peoples stuff, but if you cant pay for it, you cant pay for it. Be kind, return the vehicle, and make life easy for us all, and then let it go. It looks good on you and makes our job easier. Make life easier for our officers to, dont make a scene and make us call them. You definetely wont get your car back that way either. Peace to all and please make your payments if you can or at least call your finance company.

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