Turning in a vehicle to Americredit.?

Question

Has anyone ever had a vehicle they couldn't afford anymore and been dealing with Americredit. I was wondering if they are gonna sue me for the difference in what it is worth and what I owe.

Answer 1

They will sell the car dirt cheap (probably to an employee) and then sue you for the difference.  This is totally legal, although it's immoral and not very nice.  It will totally ruin your credit for 7 years.

If it's at all possible, work a deal with them to catch up on payments.  If they take it, you're still going to owe almost all the money you borrowed and NOT have a car.  

Could you sell the car for nearly what you owe?  That would be better for you.