How do I write a voluntary repossession letter?


There are times when someone is no longer able to keep a vehicle. If he or she wishes to turn the vehicle in, before someone comes to repossess it, they may write a voluntary repossession letter. The letter needs to include the date that the vehicle will be taken back, the make, model, and VIN number should be included. It can include where you and the party taking possession of the vehicle can meet to make the transaction.
Q&A Related to "How do I write a voluntary repossession letter..."
1. Include the recipient's name, address and loan number in the header of the letter. Address the recipient in the letter's salutation using the appropriate title. Reference the recipient's
Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they
You voluntarily give the car to the lender which saves you the cost of a repo
1. Make the letter you're writing very detailed. Use the legal name of the person you're giving permission to, rather than a nickname. Use both the first and last name to avoid any
1 Additional Answer Answer for: how to write a voluntary repossession letter
How to Write a Letter of Voluntary Repossession
A voluntary repossession is when you finance a purchase, stop making payments on it and then give the purchased item back to the lender before they repossess it forcefully. If you know you won't be able to make the payments on a secured loan, then... More »
Difficulty: Moderately Easy
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