Whether you miss a single or several payments on your car loan, the situation shouldn’t be taken lightly. You need to act fast and make smart, honest decisions based on your finances and personal circumstances. In many cases, failing to pay consecutive installments can result in the repossession of your vehicle — but there are several proactive steps you can take to avoid it.
Lift and Tow will help you understand the impact of voluntary repossession and how voluntary repossession works.
Table of Contents
- How a Repossession Affects Credit Scores
- What Is Voluntary Repossession?
- Should I Voluntarily Repossess My Vehicle?
- How to Avoid Repossession