Give the car back.

Also be sure to keep your end of the loan agreement by leaving a $15,000 certified cashier’s check/money order for the lender in the glove box for them to find when you do this as well. You were going to do that anyway, right? Of course.

Then you are free and clear of this mess. In a peaceful way.

Wrecked credit history
Lose of equity (if any)
If the car’s market value is less than the amount remaining on the note you are liable for the difference. If it’s the other way around the bank pockets the difference. If this is the case you are far better off selling the car yourself and then paying off the note. And note that the bank does not work hard to find a buyer willing to pay a given amount; they put it to auction (actually they contract with a 3rd-party to do it) and whatever it sells for becomes the “fair market value.”

You will still owe for the car,giving it back doesn’t relieve you of the debt.They will sell it for a few thousand dollars and deduct from you balance. Then add all fees for disposing of the car.

Then they will send a demand letter for the balance to be paid in full at once
Then they can sue you for the balance and they will win.

If you cant pay that they will garnish wages of attach assets until paid for..And your credit will be toast for 7+ yrs…………..md

call them up and tel them that you cant handle it and want to do voluntary repo/they will take it from there

Doing this will help. A lot of people try to hide it and it goes bad for them.
Contact the bank and tell them what you want to do. It would go in your interest to do that.

I would try to sell it for the balance first

They don’t want it! They want YOU to pay for it!