Legal Question in Credit and Debt Law in Oklahoma

Re: Voluntary repossession of motor vehicle

It depends largely on who you are dealing with: Worst case is that they will sell it at wholesale which is a lot less than you paid for it and will then sue you for the difference. They cannot attach your SS payments, but once your SS is in the bank they can get at it there. Yes, they can have a lien against your land.

Best Case: Talk to them and work out a deal where you can give them back the car and they will let you off the hook on any deficience BEFORE you give it back. A lot of the dealers will do that if they know that they will not have to reposess the thing and run up a lot of fees and costs.