Question: With an impending bankruptcy looming on the horizon….and a person is coming up on 3 months in arrears on a vehicle……and knows that they are going to be coming to pick it up via a baliff sometime ….it is inevitable….is it better to deliver the car back to the dealer- finance company myself and hand them the ownership and keys ?…..or wait for the baliff to show up sometime ?
Answer: It’s up to you. If you know you will be unable to make payments and will be losing the vehicle anyway, it’s often less hassle to simply return the vehicle now. That way you can also stop your car insurance payments, which also saves you money.