I'm sorry to hear that your car is so costly.
If a buyer surrenders their car, the lender will sell it at auction; normally the lender will receive less than the loan amount, so that they will then sue for a deficiency judgment- to get a judgment for:
1. legal fees
2. the cost of the auction
3. any unpaid loan balance.
Once they have a judgment (small claims if under $10,000) they can then fille an abstract of judgment in the county where property is located, and that will put a lien on any real estate.
As such it is usually preferred to sell the car, as a higher price is usually received, and then pay off as much of the loan as possible. This also avoids the imposition of fees #1 and #2 above.
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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.