Whether a repossession is done "voluntarily" by the primary or through the action of the lender, the primary borrower and the cosigner are still legally responsible for all the terms of the lending agreement. The affect the repossession has on the cosigner's credit history will depend upon the actions of the lender to recover the debt owed.
It has the same effect on the credit.
IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.
The one who BORROWED the money and/or the on who COSIGNED the loan.
Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost
Yes. If you default on your car loan you will remain liable for the debt.
Yes she can "IF" you fell behind on payments, and your car was repossessed, that means that she is liable for the monies due and she has every right to sue you to recoup her losses, so that her credit does not go bad.If you do the right thing right away and pay what you owe, you might be able to salvage your car and your aunt's trust. Good Luck
No, because you have your own separate credit report.
YES, usually you pay MORE down payment and/or higher interest rates.
Normally your credit is ruined for 7 years.
Yes, it can still hurt your credit if you voluntarily return a car. The car company will still put the debt you owe on your credit report if they choose too.
what happens if i voluntarily return my car to the bank due to job loss
yes