anon asks Hi CCP, I am after advice regarding car finance... I - TopicsExpress

anon asks Hi CCP, I am after advice regarding car finance... I currently have finance on a car worth $15k, paying 18% interest... so paying $30k all up over 7 years. What happens if I decide to surrender the car to look for better loans with good interest? Ive been told they auction it off. But is that for the market price, or market + interest? Do I have any other options, like trade in for a cheaper car and will it ruin my credit? Thank you. Any response is appreciated.

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