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Voluntarily give back car

Posted on: 29th Jan, 2014 12:24 am
I want to give my car back to the bank. I want to go for a cheap car now. What steps should I take give back the car? Will I be charged if I voluntarily give back the car?
Hi Guest,

You can contact the lender and surrender the car. Though you voluntarily surrender the car, you will be liable for paying the dues to the lender.

Take care
Posted on: 29th Jan, 2014 01:39 am
Hi Guest!

Welcome to the forums!

As Sara has said, you will have to surrender the car to the lender. In this regard, you will have to contact the lender and do the needful. If the lender is unable to recover the full loan amount after he sells off the car, then he will come after you for the delinquent amount.

Feel free to ask if you've further queries.

Sussane
Posted on: 29th Jan, 2014 08:53 pm
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