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If I surrender my vehicle, will I be responsible for any balance owed?

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In a Nutshell

No. Even if the car is sold for much less than what you owe on the loan, your personal liability to pay the loan is discharged.

Written by Attorney Andrea Wimmer.  
Updated July 22, 2020


No. Even if the car is sold for much less than what you owe on the loan, your personal liability to pay the loan is discharged.



Written By:

Attorney Andrea Wimmer

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Andrea practiced exclusively as a bankruptcy attorney in consumer Chapter 7 and Chapter 13 cases for more than 10 years before joining Upsolve, first as a contributing writer and editor and ultimately joining the team full time in August 2019. While in private practice, Andrea ha... read more about Attorney Andrea Wimmer

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