Can anyone give me advice about my finance company?

Question

I just found out that my finance company for my car has not been reporting my payments to the credit agencies. My car is having mechanical problems that i don't have the cash to fix it. It would be easier if i just get a new, reliable vehicle. BUT....the dealership won't take it as a trade-in because i would be upside down on the loan and i would have to put too much $$ down. So, with that in mind, if the finance company is not reporting my payments, would they report a voluntary surrender for my vehicle? I would not surrender it until after i have gotten the new vehicle of course.

Answer 1

Many finance companies only report if the account is in good standing, and then only report when there is a late payment.  Not all report all the payments.  Would they report a surrender?  Probably.  Actually, more than likely they would.