Voluntary repossession means you give the lender your vehicle instead of the lender taking it. An advantage to voluntary repossession is your lender will not charge you a repossession fee.But, if the car does not sell at auction for the amount of money that you owe the lender, you will still owe the lender money.And the repossession stays on your credit report.oluntary repossession means you give the lender your vehicle instead of the lender taking it. An advantage to voluntary repossession is your lender will not charge you a repossession fee.