I took out an auto loan for my brother to get a car last Feb. He failed to pay, so I took the car back and have been making payments for the last three months. I’ve listed the car for sale several times on Ebay, in the local newspaper, and now on autotrader with no luck so far. I have a new car myself that I am also paying on. I don’t need two cars and I can’t afford to keep paying for two vehicles. How will a voluntary repossession affect my credit since I am paying for another vehicle? Will it repair itself as long as I am paying on another car? I know that the bank will auction the car. If I pay the deficiency, will the repossession still go on my credit? I have very good credit and I really don’t want to ruin it, which is why I’ve paid on the car for this long. I am in the market to buy a house. Will a repossession affect my getting a home loan?
Sell House Quick
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