Legal Question in Credit and Debt Law in New York

Re: voluntary turning in Auto

Returning the car to the dealer does not pay off the bank....it merely returns the car to the dealer. The bank gets its money regardless.

Good Luck.

RRG

Re: voluntary turning in Auto

The assumption is that the car was bought with financing. The finance company paid for the car in full to the dealer and you are paying the finance company. You could sell the car subject to the financing (check the agreement for limitations on the right to re-sell) and/or call the finance company for instructions. I am sure they run into this situation and will work with you...though they will insist that payments be made until the situation is resolved.