Loans

How To Get Out Of A Title Loan Without Losing Your Car – Voluntarily Surrendering Your Vehicle? DON'T! Watch this instead!

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How To Get Out Of A Title Loan Without Losing Your Car – How to Choose

If you think Voluntarily Surrendering Your Vehicle is better than a repossession think again.
Watch this next…https://youtu.be/NoXHrcdZItI – 5 Tips to Paying off your Car Loan Early.

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I know sometimes things and get tight and it’s these times that can make us feel like we are out of options. Just know that voluntarily surrendering your car is always done as an absolute last restore. It is still counts as a repossession of car and what makes it worse is it removes all the control from you. Watch this video to end as I walk you through the process and give you some options so you never are voluntarily surrendering a car.

Other video that may interest you:

Paying Off Car Loan Early | Principal vs Extra Payment Explained
https://youtu.be/JLARGIGlOYM

5 TIPS to PAY OFF a CAR Loan EARLY – MY TRUCK PAID OFF IN 34 MONTHS!
https://youtu.be/NoXHrcdZItI

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This video is for entertainment purposes only. Always seek professional assistant for financial and legal matters

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31 Comments

  1. adamatt2001
    July 29, 2021 at 10:38 am

    That’s a huge help, thank you!

  2. Home
    July 29, 2021 at 10:38 am

    You just got your car repoed… Now go get a unsecured loan.

  3. M0DFATH3R
    July 29, 2021 at 10:38 am

    I'm in this situation now smh

  4. PEACHFACE24
    July 29, 2021 at 10:38 am

    My stomach hurts because I’m just now finding this video and was in this very situation and was considering a repossession. I didn’t. I found someone to take over the note , but I paid the note late earlier this year out of frustration and confusion. It dropped my score 75 points. I have done so much hard work to get so close to a 700 credit score only to be knocked down again. It’s so frustrating, stressful and it just hurts honestly. Now, the person can’t handle the note either so I’m back to square one.

  5. Everne Chatman
    July 29, 2021 at 10:38 am

    Who can I get to purchase my car at the loan balance?

  6. Pop Vega
    July 29, 2021 at 10:38 am

    I just went through this.

  7. Jamison H
    July 29, 2021 at 10:38 am

    I was in a desperate moment where my paid for vehicle got totaled and it was the other person's fault but I couldn't get a rental so I ended up getting into a car loan which I am about $8,000 upside down and my payments are over 500 a month and my insurance is almost the same which is a really big burden on me right now I'm thinking about voluntary surrendering my car

  8. Knives
    July 29, 2021 at 10:38 am

    I surrender my car and they never came back to me with any owing money. First nobody will take over your loan as we have diff. interest rates. And selling it privately wont work if your big interest. If the collection called you just set up a low monthly payment plan they will agree with that. Sure its gonna be bad in your credit but it is what it is. 7 yrs in your record just suck it up and if your situation becomes better then just purchase car cash.

  9. Marinette
    July 29, 2021 at 10:38 am

    What if you are paying through the car company itself? Like I use Toyota financial? Would it still be the same?

  10. Princess 👸🏻
    July 29, 2021 at 10:38 am

    I have a question. I have a car that we owe 20 thousand more and it’s worth about 13-14 thousand. We don’t have issues paying the $600 a month for it at all. But this car has given us nothing but problems for the past year. We literally put about 6-7 thousand since last year trying to fix a “known” issue. No one can seem to find the problem with it. I am honestly getting tired of spending an extra 1000 dollars a month trying to fix it on top of the 600 dollar payment. We tried to get Cadillac and GM to help us and no one wants to. It’s to a point it’s not safe to drive anymore. This is our family car and am afraid to drive it because he jerks on the road and shakes BAD. We are at the point to just call the bank and tell them all of this and just pick it up. What does everyone else think.

  11. Patricia Davis
    July 29, 2021 at 10:38 am

    Thanks for sharing and keeping it real

  12. hiddendragon1001
    July 29, 2021 at 10:38 am

    What if you do a voluntary surrender and still make the payments to payoff the account. Does that count as a negative mark?

  13. Shanita on the Truth
    July 29, 2021 at 10:38 am

    Can you voluntarily surrender your car, then decide that you want it back and actually get it back?

  14. Alexi Manon
    July 29, 2021 at 10:38 am

    What would he the best way to find someone to take over payments

  15. J Freedom
    July 29, 2021 at 10:38 am

    Lol goes as long as you can go drive free .. your credit is shot have a back up car in meantime after repo your in trouble . Just file either chapter 7 or 13 and you will not have to pay the stupid thievery deficit balance . Your credit will bounce back 2 years after bk simple as that . Don’t pay the note if your already strapped up . Fresh start bk ! Or 7 years with stupid issues fighting a loan with a car you don’t have . Best thing pay cash for cars never take out loans ….

  16. Rosebella
    July 29, 2021 at 10:38 am

    I have a car loan and I decided to return it the next day to the dealer but they refused saying that the sell was final. Should I apply for consumer proposal or what else can I do. I really, need a help and I got the car a month ago.

  17. Drummer 4 lyfe
    July 29, 2021 at 10:38 am

    I need help can you help me. I am out of option?

  18. Miguel Pantoja
    July 29, 2021 at 10:38 am

    yo i need help im planning on giving bavk the pre owned car i got from a dealership because im paying more than i should how do i do this

  19. milamj09
    July 29, 2021 at 10:38 am

    This guy is giving actual helpful and accurate advice, which is rare on YouTube.

  20. Katina CreditLady & Collection Expert
    July 29, 2021 at 10:38 am

    My sister bought a car and when she came home it was way too much they really did a job on her since she just bought it and it hasn't been 24 hours can she return it? By law

  21. Jerry Navarro
    July 29, 2021 at 10:38 am

    Thats why I purchase my cars from a private seller. I never ever EVER bought a car from a dealership , because it all a scam !

  22. Dominique Green
    July 29, 2021 at 10:38 am

    What if it’s in house financing

  23. 54drj55
    July 29, 2021 at 10:38 am

    What happens if you still have the car and there trying to sue you for the balance owed?

  24. Jay Vinche
    July 29, 2021 at 10:38 am

    How does the paper work, work? When u sell the vehicle and pass it over to the purchaser? Plz reply im thinking of selling my car from the dealer because i cannot pay it anymore.

  25. All Truth Matters!
    July 29, 2021 at 10:38 am

    Let them repo, just make sure you have a backup vehicle that is dependable. You can dodge the bank coming after you by filing for chapter 7 bankruptcy, which will give you a fresh start. You won’t hear that from a paid off shill with thousands of followers, they don’t want you to know this.

  26. All Truth Matters!
    July 29, 2021 at 10:38 am

    This message brought to you by Bank of Anerica

  27. Scott Hickam
    July 29, 2021 at 10:38 am

    I have looked at options but I don’t have anyone to take over payments and other things u stated

  28. Tiny Blanca
    July 29, 2021 at 10:38 am

    Veryyyyyyyyyyyyyyy helpful honestly!!!!!

  29. John Davis
    July 29, 2021 at 10:38 am

    I'm a car dealer (mostly in-house – sub-prime lending, also known as Buy Here Pay Here), and this guy Diamond is spot on. Borrowing from John to pay Peter is usually a poor choice, but when a vehicle repossession is looming on the horizon, this would be the exception. Borrow enough to cover the gap between when the private sale price and the loan balance so that the sale can be made, then pay off the unsecured loan. Another option depends on who is the actual lienholder, who holds the loan. If the lienholder is a car dealer (basically a BHPH dealer), if the vehicle is in good shape, and is obviously worth more than the loan balance, the dealer may be interested in accepting the collateral (the car) as full satisfaction of the loan. That's because the dealer would make more money reselling the vehicle than auctioning it off and chasing the debtor for the balance. If the dealer accepts the vehicle to resell it, then the dealer is required to consider the loan as having been satisfied (Uniform Commercial Code, Article 9 – Secured Transactions, Section 620 – Acceptance of Collateral in Full or Partial Satisfaction of Obligation). The repossession will still appear on a person's credit history, but the balance owed would be zero. However, if the car is a worthless piece 'o junk, or if the lienholder is not a car dealer, then that's not an option because a dealer would find more value in the outstanding loan balance than the value of a bucket of bolts, and non-dealers (like a bank or a comparable financial institution) cannot sell cars directly to the public.

  30. Dcd 180
    July 29, 2021 at 10:38 am

    Diamond do you think it's a smart idea to pay off my car loan in full even if it'll leave me with a couple grand in my account? Im really sick of my payments and it's only been 3 months. Also it'll leave me debt free.

  31. Peppamint Tea
    July 29, 2021 at 10:38 am

    Oh snap 1k subs congratulations!!!