Whether you do a repossession voluntarily or not, it is still a repossession. The only difference is that by doing a voluntary repossession, you may avoid the actual costs to repossess the vehicle. Even though the vehicle is now in the hands of the lender, if you look at the contract, in most instances you’ll probably find a clause that states that in the event of a repossession, you will owe them the difference between what the vehicle sold for at auction and the balance due on the finance contract (plus any reasonable fees associated with selling and storage).

My suggestion would be to look over the contract and, if there is any doubt regarding this, contact a lawyer.