Question about surrendering car

[downwardspiral]

Can you taket he car back to the dealer as opposed to having a tow truck come to your house? I know its silly, but I would be embarrassed to have a tow truck come get it. I'd prefer to drop it off somewhere

Is that an option?

[Chrisi18]

I believe it depends on who you have the loan through, call your lender and tell them you want to do a voluntary repo, and ask them where you can drop it off.

[momof5]

It really depends on who your loan is through and how they proceed.

We REALLY wanted to surrender ours at a mutually agreed upon location.Even offered to deliver it where ever they wanted. They showed up at our home without notice. Husband was outside so the process went fast. I figured the neighbors just thought we were having repairs done.

[b_girl]

With our first vehicle, we didn't give our lender the option...we dropped it off without notice. Giving back the second vehicle will be more difficult..there is no office and no dealer. We're hoping they'll pick it up at an agreed upon location.

[bookwyrm]

In our case, we turned our car in to our attorney and he will be contacting the lender and making arrangements with them to take the car back. Maybe you could check with your attorney and see if they could do it this way?...

[b_girl]

That's a good idea! I'll have to check...thanks!

[downwardspiral]

I contacted my attorney, and he said I would have to call the company holding the car loan and let them know I want to surrender it. If it's financed with a bank, they will most likely schedule a time to pick it up. If we financed with the dealer, they might allow us to take it to the dealer. We hare financed with Nissan Motor, so I'm hoping I can take it back tothe dealership

[Martha13]

Hi Downwardspiral.....We voluntarily returned two vehicles that were each financed through different dealers, and in both instances returned them directly to the dealership. It wasn't a problem at all, the only thing I would recommend to save yourself some time is to contact the department that handles the returns and have them fax the paperwork directly to the dealership AHEAD of time so it will be waiting for you when you get there and things will go more smoothly. Also make sure you get copies of everything...

Our experience with this showed us that the salespeople/office folks in the dealership really didn't quite know what to do, and depending on the time of day, the bk department might be closed when you get there! (this happened to us and we had to go back on another day, kind of a pain...) We also had financing thru Nissan. Oh, and the people were very, very nice to us, and understanding. Good luck!! (I was with you--did NOT want a tow truck showing up, though as "mom" mentioned, the neighbors probably would assume your car wasn't working !! I saw one in our old neighborhood and assumed that....but now that house is going thru a short-sale, and maybe they WERE having their car repossessed? But, I certainly don't care!!!

[downwardspiral]

Thanks Martha

[allavdj]

I surrendered my VW Jetta that I had financed through Nissan. The lady on the phone that scheduled it was super nice and polite and the guy they out was very nice and polite. He actually ended up sitting around for about 15 minutes talking because he had to pick his kid up from somewhere and needed to blow some time.

I asked them about meeting somewhere and they were fine with that, even gave me the guys cell phone so I could arrange things with him, ended up that it was easier to pick it up at the house.

I'd say that if you voluntarily surrender a car you get the "nice guys"...if you make the bank just come get it without permission, you get somebody in your front yard at 11pm taking your car.

[jessegirl]

Nothing worse then having a big repo truck pull down your block, while all your neighbors are outside Huh???

[FreshLikeADaisy]

If you do a voluntary repo (in other words, drop it off) be sure to read what you're signing VERY carefully. A friend of mine went through this a couple of months ago, exact same scenario, and when he offered to drop it off, the dealership faxed him a paper to sign that included accepting responsibility for a $28k deficiency balance (the car was worth less than $20k, and the loan balance was $15k, so where they got the $28k is anyone's guess). My friend declined to sign such an agreement so they refused to let him drop it off, and the repo man came to the house. But they called first and were very cool about scheduling it, so it wasn't a middle-of-the-night embarrassment at all.

If you have already filed Ch7, and THEN you sign such an agreement, it seems like it could be non-dischargeable debt since it was executed post-filing, so be careful. I don't know if this would happen, but I wouldn't take any chances. The repo man might actually be a friendlier choice.

Caveat emptor.

P.S. I don't think there was a tow truck involved in my friend's repo; he told them where it was and where to find the keys, and if I remember correctly they just drove it away. No tow truck.

[Martha13]

Wow, Fresh..Daisy, What jerks at that dealership! One of our car co's wouldn't take the car "voluntarily" until we'd officially filed, but otherwise they were cool about it. In both dealerships, the paper my husband signed was nearly identical--a simple one page form simply acknowledging return of the vehicles, that we'd removed all personal property from them, and hadn't removed anything from the vehicles that were an actual part of the car (like a stereo or something, I guess.) No scary language about deficiencies or anything, your poor friend. The one thing I did find odd is that after we ret'd one of the cars to the dealer (not the exact one we'd purchased it from, just the same make) they actually hired a re-po man to come get it from their lot! Seemed like alot of extra expense on their part, but not my problem...

[FreshLikeADaisy]

Exactly, Martha -- I would have no problem with signing something like you describe, and it's good all around because it allows them to sell the vehicle without any further involvement from you. But signing for deficiency balances... oh hell no.

[TEW]

BOA said how ever i want to do it I can drop it of at a branch office or they will come get it.