Voluntary repo from J.D. Byrider

Submitted by Fearless_Sentence_12 t3_10q841i in personalfinance

Hello, I bought a car from J.D. Byrider back in 2019. Absolutely horrible mistake. I've been making my payments on them plenty fine, but I've also sunk a lot of money into this car fixing stupid random shit.

Well with the last like 4 - 5 months, I've had to take my cat to the vet plenty, I'm behind on a couple other bills because I had to take work off after two separate injuries, as well as my house furnace going out in December. On top of all this, my car blew up in mid November. I have an about 25 min commute at 1am. It was extremely hard to find rides to my job considering the shift time as I constantly had to offer people basically double the gas money for them to even consider it. But I was able to make enough money for another down payment at an actual dealership with a really good car.

My old car has set at walmart for a bit (surprisingly) untowed, as I don't even have the money to tow it to my house. I just cleaned it up and put the keys in the glove box. I'm ready to call them and ask them to take it back.

On the other hand, I only owe them 2.3k. I will even pay it off later if it goes to collections. But I seriously cannot afford this with another car as the late fees are swamping me with everything as I'm always only a little behind. I know this will hurt my credit and I will bite that bullet. But do you think they'll understand (not saying I'll get off the hook with the money) with the situation at hand if I explain this to them?

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[deleted] t1_j6oewhh wrote

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Fearless_Sentence_12 OP t1_j6of96l wrote

Again, I'm willing to pay that out. But honestly wouldn't this go to collections and I'd just take the hit on my credit and be able to pay it off later? Because it's literally this or my house lol

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[deleted] t1_j6oft3r wrote

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Fearless_Sentence_12 OP t1_j6og4z5 wrote

Again, if that's the case so be it, but I really hope they don't expect me to pay it all at once. I live in Indiana, and I looked up the JD byrider repo thing and it really didn't say anything about that, just:

"When repossession can occur:

The titleholder can repossess once you default on your loan, which could mean missed payments or that you are not meeting another requirement of the loan, such as maintaining insurance on the vehicle. See your specific loan or lease contract for details on what requirements you must meet to avoid repossession.

The repossession process:

Your vehicle can be repossessed on your property, provided there is no breach of the peace. The person who repossesses the vehicle must notify the local sheriff’s office before repossessing or with" for Indiana

Also, not trying to argue. Just trying to brainstorm 😭

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[deleted] t1_j6ofub8 wrote

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Fearless_Sentence_12 OP t1_j6ogmr8 wrote

My plan was, to let it go to collections, get caught back up on bills and pay it off as soon as I can. I know it's the norm, but I'm not trying to be scummy and dip on it. I just have insane financial hardship going on and would like to get caught back up.

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[deleted] t1_j6okvu6 wrote

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Fearless_Sentence_12 OP t1_j6oq914 wrote

You're honestly a bro for this response. I don't want to be sent to any court room, but I def will plead with the judge in terms of "unnatural causes". :\

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Fearless_Sentence_12 OP t1_j6ohoq3 wrote

Also, I was shocked by the approved car auto loan too. So looking at Credit Karma, this is what I deducted (because I actually view and *do* care about my credit score). My TransUnion has my car loan, and the Chime Credit Card. Since it only has those two, and my payment history is so good, my credit score for Trans Union is over a 720, which is what they *I'm assuming* they only used for it.

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Liquidretro t1_j6olol9 wrote

That's not how it typically works. Your major stuff should be reported to all of them.

I would look into a personal loan to pay off the non running car and keep your house before you consider a new loan for a car.

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Fearless_Sentence_12 OP t1_j6opae6 wrote

*keyword* "typically" that's funny, I have multiple accounts both on my TransUnion and different type of accounts on my Equifax that all fit in a nice little category. I'm not saying everyone here doesn't know what they're talking about. But maybe study your credit score a little closely with who reports to what. All these accounts are over 2 years old. So it's surely not the credit union doing dumb shit over a reddditors response.

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Liquidretro t1_j6oraqg wrote

Lol. OK 2 years of experience, I'll call you next time I need help Dr expert.

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Fearless_Sentence_12 OP t1_j6orqqm wrote

honestly bro you went for spite with this comment and there was no need for that. It's like the spite coming out from a mechanic. I'm not trying to get that broski.

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Liquidretro t1_j6oty39 wrote

Your suggestion that I don't know what I'm talking about is comical based on your limited experience. My mortgage is on all four major credit bureaus reports as are all my credit card accounts. Not every credit agency is going to have exactly the same thing and they don't score things the same but your major accounts should be on your major Credit agencies reports. Why yours isn't I can't answer.

Good luck I hope you figure things out

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USS_Notajetski t1_j6oeu8q wrote

I would not risk the hit to your credit, collections and the repo on your court records. Repos here in WI they have to sue you in court. Not sure how that works for you. Could you work with the dealership to take it as trade? I have heard of people rolling that debt into something else.

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Fearless_Sentence_12 OP t1_j6ofgfl wrote

I mean, if the debt is being rolled into some type of play later, then no. But I don't want to have anything to do with them again.

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USS_Notajetski t1_j6og9ad wrote

What I meant is that some dealerships, like the one you are working with might be able to roll the 2.3K into the vehicle you are looking to buy so you can pay off the clunker and not take the hit.

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Fearless_Sentence_12 OP t1_j6ohz6u wrote

I've already got a new vehicle bro, tho is what I'm saying. I honestly *could* do this, but with all my late fees im incurring on multiple other bills is dragging me down.

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USS_Notajetski t1_j6oiqzb wrote

Sorry miss read your post. I thought you were currently buying another car. Not already acquired one. I guess with that info the worst you can do is call JD and explain the situation as you said and see what they can do. Maybe they can buy it back from you or something.

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Fearless_Sentence_12 OP t1_j6oog1c wrote

That's what I'm saying, I know it'll hit my credit. But I honestly don't need credit rn. I have a house and a good car after this. I'm just trying to catch back up before I splurge into anything that's a heap of junk essentially.

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eastblondeanddown t1_j6oy7t2 wrote

So to be clear, right now you can't afford to pay JD Byrider at all with your new car payments and mortgage, etc?

Seems like the best case for you to avoid damaging your credit (which you absolutely will care about in the future) would be to get a short term loan or line of credit that would allow you to pay off the car outright and tow it to their lot, and then make monthly payments on that debt.

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