Dear Driving for Dollars,

I have a 2007 model year pickup and I can’t make my car loan payments anymore. I am disabled and cannot find anyone to hire me. I’m thinking I should voluntarily turn in my truck. It will be repossessed eventually anyway. What can I expect?

— Harry

Dear Harry,

You are in the same boat in terms of your credit whether you voluntarily surrender your car or it is repossessed. However, there is the possibility that you may be able to reach some sort of arrangement with your lender on your car loan to help you keep your car. If that’s not possible, try selling the car yourself if you can sell it for what you owe — or can get a loan for the difference. To see your car loan options and to learn what happens in a repossession, read this Bankrate story about the repo man.

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