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How much will a voluntary repossession drop your credit score?
How many points will a voluntary repo drop my credit score? I can't pay for my car note. I was thinking about handing the keys back to the lender, but I'm worried about my credit score.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Your credit may drop anywhere from 50 to 150 points, whether or not the repo is voluntary or involuntary.
Credit loss: Between 50 to 150 points, depending on other credit factors
Pro tip: You don’t have to sit back and let your lender take your car. You might still be able to make arrangements with them. Call your lender now and find out if they may be willing to work out a deal so you don’t have to voluntarily repo your vehicle.
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- Gregory R.
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