Auto repo... Yes or no

[cpt]

Do anyone have any knowledge and/or opinions about having  a vountarily auto repo if you have the followinig recent factors: 1) Fico = 490, 2) two chapter 13 dismissals, 3) home foreclosure and 4) upside down on vehicle by approximately $13,000? Oh,, did I mention it is not gas efficient!

(2005 Chrysler 300)  

[Anonymous]

From a FICO perspective - it can't ding your score much more than it already is. I am sorry to say but your score is such that almost no lender will give you a loan so I can't forsee this doing appreciably any more harm. If that is what you need to do financially, don't like FICO hold you back.

[cpt]

Thank u for your reply!

[Schoolbuskid]

I would say if you want to let it go back...then i say do it! Their is always a rebuilding phase that can take place! Just know that its going to be tough getting a loan anywhere else!

[Anonymous]

I must say.... hold on to your auto loan. All other posters are right, it will be next to impossible for you to get a loan by yourself for a while. Perhaps you can use your car as a vehicle to getting a better score. Can refinance with a co-signer?

[Schoolbuskid]

Yea that a good point!