It happens that car loan borrowers are faced with a situation of inability to pay their debts. In this case, in order to return the car to the bank, you need to act very deliberately, because when applying for a loan, not only a lot of time was spent, but also a significant amount of money.
Instructions
Step 1
If paying for a car loan has become an unbearable burden for you, returning the car to the bank can really be a good decision, but if you have already paid the main part of the loan to the bank, then think about another way out of this situation.
Step 2
First of all, never ignore the arising debt. It is better to return the car purchased on credit than to wait for the arrival of the bailiffs. If you return the loan machine to the bank yourself, its price will be close to the market value. If the bailiffs deal with this issue, the price of the car will drop significantly. In addition, you run the risk of being left without other valuable property, which may be seized from you to cover debts to the bank. And remember that the law provides for criminal liability for non-payment of a loan.
Step 3
Try to make an independent return of the car to the bank and you will have the opportunity to preserve your positive history and use the services of a credit institution in the future. Otherwise, you will permanently acquire the status of a “dishonest payer”.
Step 4
Of course, the bank does not need a car purchased on credit, it needs money. Therefore, contact the bank to obtain permission to sell a credit car. As a rule, many banks meet borrowers halfway. Then find a buyer on your own, come to the bank, conclude a sale and purchase agreement and, having received money for the car, pay it to the bank's cash desk.
Step 5
Some banks take loan cars for self-sale, but they sell them at the lowest price to cover their own costs. Therefore, in this case, you run the risk of being left without a car, and even with debt obligations.
