car repossession

Hi!
Welcome to the forums!
This is a wrong concept. There is no guarantee that repossession will eliminate your debt. If you fail to make payments on the car loan, then your lender may repossess your car. He will most probably sell your car at an auction. If the sale proceeds does not satisfy your loan, then you'll still owe money to your creditor. I think it is better to sell your car on your own. This is because you may be able to sell it at a good price. You can use that money to pay off your debt. You can also work out an alternative repayment plan with your creditor.

Except you can't sell the car if you don't own it (are still making payments on it). No disrespect, Nelly but your advice doesn't really work for this poster.
Rick, take the car to the dealership and turn it in if you can't afford it. They will sell it at auction and you will only be responsible for paying the difference between the selling price and the amount you owed at the time of turn in. Is this a lease or were you actually buying the car? Any chance you had GAP insurance?