Best time to turn in Vehicle?

[drummer1]

My wife and I have decided we could use the extra money and want to let my truck go, should I do it now? or do I HAVE wait till after the 60 days? They did tell me they do not re affirm auto loans..Thanks

[keepmine]

If you are currently in default, take it to the lender or, call and arrange a pickup time. You don't have to wait any length of time if you want to surrender it voluntarily.

[drummer1]

We are not in default, never late, we just realize the extra money is something we are going to need, so again, should we continue to make payments? turn it in now? or make the next two payments and turn it in after the 60 day time frame? thanks

[emoney]

Unless you are going to file BK you would be making a big financial mistake to turn your truck in for the bank to sell. If their is a shortage, and there most likely will be because banks do not sell cars for all they are worth, you will owe the difference.
If you want to sell your truck you should do it yourself and avoid the repo on your credit report.
regards,
emoney

[coma]

Unless you are going to file BK you would be making a big financial mistake to turn your truck in for the bank to sell. If their is a shortage, and there most likely will be because banks do not sell cars for all they are worth, you will owe the difference.
If you want to sell your truck you should do it yourself and avoid the repo on your credit report.
regards,
emoney

From theOP's signature, they've already filed, so the loan is already IIB. You can voluntarily surrender it now, and the deficiency balance can be discharged. There'll be no repo on the credit report at this point. All they can report is IIB, especially since the payment history is clean prior to BK.

[keepmine]

I'd not make anymore payments. Drive it until the next payment due date and then surrender it.