I'm going to voluntarily turn my financed vehicle over to the bank. They are asking me why and telling me i have to answer questions while being recorded before i can proceed any further with the turnover. If I don't supply them with recorded statements they told me I can't turn it over that they will eventually just come repo it. They also told me that i can't bring it to them that they would have to come get it and even if i voluntarily turn it over it will still be counted as a repossession and that the same extra fee's would apply. I live in Florida.
Yes, you can't force the bank to take back the car. But, you should talk to an attorney before you do this. there may be alternatives that are better for you.
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Since a voluntary repo and an involuntary repo have the same effect to your credit, there is no real benefit to going through a ritual of taking the vehicle to the bank. Park it, remove all your personal possessions, including the license plate, sunpass, etc., call them to advise you are not making any other payment, tell them where the vehicle is, and let them come for it. The same fees for them having to haul the vehicle away and sell it will apply whether you drive it to their branch or they come to the car, since they would still have to have it towed, stored and sold.
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Yes, what the bank has told you is pretty accurate.
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