I regretted financing a car for a relative who promised to make all payments on it in exchange I transfer the ownership to the relative after the auto loan is fully paid. The relative have stopped making car payments and no longer want the car. I do not want to keep the car also because I already have one fully paid.
I understand my credit will be greatly damage if the car get repossessed. It's better to make less payment on it after the finance company auction it than making full payment + insurance payments on a car I don't even want to keep.
If I let the car get repossessed, will the Payment Term and the APR stay the same?
edit: auto loan account is still current and my credit is still good.
Submitted June 16, 2019 at 07:02PM by mia_leev http://bit.ly/2Km2Teh
