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If your payments are up to date but you want to turn the car in early because the payments is a financial burden what will this do to your credit?
It will make a repo appear on ones CR and subsequent loans will require a higer interest rate and possibly higher down payment.
How many points will credit score drop with repo?
points don't matter, you will have "repossession" on your record which will turn a creditor away.
If your loan is current and you turn the vehicle back in to the lender can it still be reported as a repo?
YES! A repo is a repo. If you turn the vehicle in to the lender and stop making payments this is called a voluntary repossession. The lender will sell the car and you will be responsible for the difference in what the car sells for and the balance on the loan. It will be reported to all 3 credit bureaus as a default on a loan, and your credit will be ruined for 7 years. You would however save to repo fees such as towing. Do not do this. Call the lender and work something out if possible.
What happens if you don't turn a car over to the repo man?
they will repo it
Is it better to turn your car in that to have it repossessed?
It will still show up as a repo on your credit report, even if you brought the car back and told them you can't pay for it.
Can your car be repossessed with the brake on?
yep. the repo man can just get in it and go. they have the resources to make keys and they most of the time have blank keys they ise to break in. so there is no safe way to keep the repo man away. just turn it in so your credit doesnt get totally destoyed
What are the Consequences if i don't turn in a rental car?
Your credit card will be maxed out. Even forced charged, you will receive demand letters and repo companies will be looking for the car, then the car would be reported stolen.
Is it better to turn in a motorcycle or wait for repossesion?
either way your credit is screwed, I would keep riding it and use it till the repo man shows up. There is no jail for failure to make a car payment.
Is appears an action verb?
The verb to appear is an action verb as a word for coming into view.Example: The school will appear as soon as you turn the corner.The verb to appear is a being verb as a word for seem or to give the impression of being.Example: You appear to be lost.
Can a person turn back in a car that they bought a week ago and not be considered a repo?
Considering that the LENDER will be the one to report it as a "repo", wouldn't it be best the discuss it with the LENDER?
Who do I contact to turn in someone who is hiding a car due to repossession?
If you know who there finance company is you can call them directly. Or you can call the repo comapany. Some finance companies and repo companies actually give a reward for contacting them and telling them where it is.
What is your credit score when you turn 18?
620
