We are about 3 months behind on our truck payment; we just can't afford it anymore(husband was on Overtime, and no longer is). It's either get groceries or pay for the truck, so we pick groceries!!
It's only a matter of time before they would repo it, so rather, we would like to voluntarily turn in the vehicle. Wondering what the best way to do this is. The loan company is in a different state, so it's not that we can just drop it off there. Can we bring it to a local Dodge/Jeep dealership(it's a Jeep) and drop it off there?
What about the insurance. We got a cheap vehicle to replace it(parent's lent us the money), so insurance on the vehicle under loan will end Oct. 28th I believe(30 days from when we purchased different vehicle). So we definately want to get it turned in before the insurance ends.
Does anyone know if our liability as far as insurance purposes goes ends once we drop it off at a dealership? Do we get some kind of proof that we dropped it off. How do we let the lender know? Before or after we drop it off?
Thank you so much!!!! Sara
It's only a matter of time before they would repo it, so rather, we would like to voluntarily turn in the vehicle. Wondering what the best way to do this is. The loan company is in a different state, so it's not that we can just drop it off there. Can we bring it to a local Dodge/Jeep dealership(it's a Jeep) and drop it off there?
What about the insurance. We got a cheap vehicle to replace it(parent's lent us the money), so insurance on the vehicle under loan will end Oct. 28th I believe(30 days from when we purchased different vehicle). So we definately want to get it turned in before the insurance ends.
Does anyone know if our liability as far as insurance purposes goes ends once we drop it off at a dealership? Do we get some kind of proof that we dropped it off. How do we let the lender know? Before or after we drop it off?
Thank you so much!!!! Sara
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