Vehicle Loans

I don't think this is the proper section, but I figure the guys savvy in investments etc will have the answer I'm looking for

I took out a loan and bought a motorcycle

I've realized that I don't really ride as often as I'd like, and find myself thinking that the money I'm spending each month in loan payment/insurance cost could be far better spent

Now then, I don't believe I'd make enough selling the bike private party to pay off the loan

KBB on the bike is $7800 or so and the payoff on the loan currently is $8000

Generally speaking, is it possible to just relinquish the bike back to the financing dealer and will this negatively affect my credit in any way?

 

After doing some more reading, I think it ends up as showing as a repossession on my credit history...which...would be NOT GOOD...

If anyone can confirm or deny this with some certainty that'd be great



It's not an issue of if I can or cannot afford the bike...it's more of a I'd rather be spending my play money elsewhere at this point and I want to take the smallest hit possible when getting rid of it

 

cool deal

I'm much more ok with losing a couple hundred than anything negative on my pristine credit rating

 

I may wait till springtime to sell it...seems the market is better then