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TO
KEEP OR NOT TO KEEP?
As you know, some of your clients surrender
because they’re behind on their payments and owe much
more than what their depreciated vehicle is really worth.
Perhaps the payments are too high and actually contributed
to the problems that led to bankruptcy. Maybe the vehicle
has high mileage or lots of mechanical problems and is simply
unreliable. Or the vehicle may no longer meet their needs.
As you also know, there are many reasons why your clients
don’t surrender. In some cases, they’re happy
with the vehicle, their payments are current, and they’ve
almost paid it off – and in those cases, it’s
a pretty easy decision. But many of them are worried that
if they surrender, they’ll be stuck for months and
months without a car, and will have to use family, friends
or the bus to get around until well after their bankruptcy
has discharged. And that even then, their credit will be
in such bad shape that their only options will be older,
high-mileage, unreliable vehicles with huge down payments
and unreasonable financing. Sound familiar?
Now they don’t have to worry.
And
there are many great reasons why not.
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