Voluntary Repo

TStrick

Hello, I am looking to voluntary surrender my car back to Nissan. I was dooped into buying the car, I believe. I took a 2007 Nissan Pathfinder to dealership with transmission problems, last February 2018 and was told it was going to cost me $8k to fix it. They said they would buy my Pathfinder and put me in a new car. I was told that they would not guarantee I would make it another 100 miles if I drove off the lot with it. My husband was over 2 hours away at his job location and I feel, as a woman by myself, I was taken advantage of. I have since been told by many others that my Pathfinder could have been fixed for $150.00. Another thing too, was I only had one payment left on it. I already had to defer one payment in the one year of having it because my husband lost hours of work , in construction, during Christmas and New Years, so I will not be able to defer any more if we encounter the same this winter. I thought of refinancing but I am upside down too because initially I came home in a Nissan Versa Note. My husband hated it. After 10 days, I took it back and traded it in on a Nissan Altima. I know this will hurt my credit but I can take my one payment I make each month, add a little extra to it and buy a used car outright now , and not only save the monthly payment but also save on insurance. If I do not do this, I feel that in the end, this Winter, I could face losing the car anyway and this time , it will not be voluntary.

kyfdx

There really is no such thing as a "voluntary repo". If you default on your loan, then you'll take a big hit to your credit, no matter the circumstance. You'll likely be unable to get auto financing for a long, long time, and the interest rates on all other debt you have or wish to have will skyrocket.

It doesn't really matter why, but you've made a series of poor financial decisions. (Trading cars twice in a couple of weeks).

Taking the car back to the dealer doesn't help. The loan is held by the bank, not the dealer. And, you promised to pay the money back. Even if they get your car, that doesn't satisfy the debt.

Don't compound your problem by making another rash decision. Cut back on other expenses, or find a way to increase your income. Time and hard work can solve all problems, as long as you aren't creating new ones.