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Posted in Auto Loans
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traesongzIII

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If I have an auto loan, how bad would my credot be affected if I surrendered the vehicle?

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If you're talking about reposession, it's going to hurt your credit A LOT. The repo will stay on your credit report for 7 years. I had a repo back in 2003, and it dropped my credit score roughly 100 points (at least). After the 7 years were up, my score immediately went back up by about 100+ points.

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