HSBC AUTO LOAN FINANCING

You can return the car put it will show up on your credit report as a repo and you will still be responsible for the amount owed between what the debt is and what they get when they auction the car off.

Have you tried to refinance the loan with a lower rate?
Have you asked HSBC to lower the rate?

What is the car?
How much do you owe?
Where do you live?
What is the condition of the car?
How many miles are on the car?

There is no such thing as an "adjustable" car loan. They cannot increase your rate on you; it will always be the same rate that is stated on the financing contract you signed.

Keep in mind, a finance company is in the business of loaning money, not selling cars. If you give them the car, they will bring it to an auction where it will be auctioned off to the highest bidder. Most likely they are not going to sell it anywhere near the amount you actually owe them. In which case, as cellular said, they will still come after you for the difference. And it will be on your credit report.

as an FYI, HSBC announced this week that they are ceasing all operations in the US except for their credit card issuing. I dont know how this will affect your loan, but you should definitely look into that. Also, if your interest rate changed on this loan after you signed the paperwork to initiate the loan, then something is very wrong, as car loans are not variable-interest.