Voluntary Return of Financed Vehicle

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ObiWanKnobi
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Posts: 1
Joined: Sun Mar 15, 2020 12:15 pm
Country: United Arab Emirates

Voluntary Return of Financed Vehicle

Unread post by ObiWanKnobi » Thu Mar 19, 2020 1:45 pm

The way I understand it is that you get a POA, return the vehicle to the bank, they auction it, and apply the proceeds to the loan. Then you have to see if it covers or nearly covers the balance.

But my question is, if the difference isn't too much, isn't better to negotiate out of paying the balance?
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