Quick Answer: What Happens If You Give Your Car Back To The Finance Company?

Quick Answer: What Happens If You Give Your Car Back To The Finance Company?

If you aren’t able to pay your car loan, the bank may try to repossess it as partial or full payment for what you owe.

Excess DebtIf your car sells for less than what you owe, that debt will continue to be reported on your credit report as an outstanding balance, which hurts your credit score.

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