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its_just_me870411

Confused understanding

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Hello,    Earlier in the year I have purchased a 2005 truck from a used dealership parking lot & it's been a rough year with this dealer & this at this point they have picked it up over it being 11 days past due.  & now I am thinking of signing a surrender back with a volunteer repossession & she said they come out on the credit report as not a repossession like if they're not asking for credit back..  How should this work for tryin to get another vehicle??? & I hope she keeps her word. 

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6 minutes ago, its_just_me870411 said:

they have picked it up over it being 11 days past due.

 

I assume this means that you financed the vehicle purchase (perhaps through the dealer) and that the lender has repossessed the vehicle because you didn't make the required loan payment.  Correct?

 

 

7 minutes ago, its_just_me870411 said:

she said they come out on the credit report as not a repossession like if they're not asking for credit back.

 

I have no idea what this means.  However, as explained above, it appears your vehicle already has been repossessed.

 

 

8 minutes ago, its_just_me870411 said:

How should this work for tryin to get another vehicle?

 

Either a repossession or a voluntary surrender will negatively impact your ability to obtain auto financing in the future.

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