Are you behind on your payments? Has your lender asked to “voluntarily repossess” your vehicle? Voluntary repossession is the same as regular repossession. Voluntary repossession means you give the lender your vehicle instead of the lender taking it.
The only advantage to voluntary repossession is your lender won’t charge you a repossession fee. You will probably still owe the lender money. You will still have the repossession on your credit report.
Is the lender saying you won’t owe it money? Is the lender saying the repossession won’t be on your credit report? Get these promises in writing before you give the lender your car or truck.