l bought a car for someone else (huge mistake)!!They do not want the car anymore and gave it back.l can barely afford to keep it, but why should it!

Should l sell it or have it voluntarily reposessed?

If l sell it....l would probably take a $3K - $4K loss on it!!

Definitely sell it, it hurts your credit a lot less than a repossession. Also, did you talk to the company that financed your car? They might be able to help you somehow, and they'd rather do that than go to the trouble of having to repossess it from you (which costs legal fees plus getting a repo guy to go take it.) Repossession really is a last resort for them, especially if you have been paying responsibly in the past.

shay sale the car , and if you cannot sale it do not turn it in voluntarily , a voluntary repo is worse on you credit than an involuntary

If you're making payments on it then you do not own it, A bank
does which means there is a lean against the title of the car
and with out the title, legally you can not sell it. Talk to the lender
or the dealer you got the car from to know all your options.
Remember that if you turn a vehicle over to the dealer not
only will you have to pay it off but they will inspect it for any
damage and you will be charged for that too. Good luck

If you sell it, you'd take a loss of $4K, but your credit would stay intact.

If you don't, you get a repossession on your credit for the next seven years, they sell it at auction and you still pay the difference between the sale price and what you owed plus the costs of repossession.

You plan to apply for credit in the next seven years? If not go for the repossession and the subsequent demands for payments and perhaps even the joy of going to court.

take that car a drive it threw the other persons house

Selling it is definitely ur best option. There is no difference between an involuntary repossession or a voluntary repossession where ur credit is concerned. Also if u have the car repossessed the finance company will sell the car at auction & most likely get 40-50% of what ur car is worth. The real kicker is that u will be responsible for paying the balance that is left after the sale proceeds r posted to the account. If u sell the car u can definitely get more for it & save ur & credit & yourself some money in the long run