How do I give my car back if I can't pay my loan?

How do I return a financed car? I can't pay for my car loan after a while, so I want to give the car back.

Answer
“The answer should be in your contract.
If you don’t see it, just call your lender—not the dealer—to see what you should do with the car.
Keep in mind that a voluntary repossession such as this has the same impact on your credit as an involuntary repo.
You can also try trading in your vehicle for a cheaper car and hope that the loan difference offers you some financial relief.
So before you turn the car in, run your important errands, go searching for a job, or do other important things, as you won’t have a car afterward.”
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Eric Schad
Answered on Jul 03, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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