Anybody have their car repossessed?

[ThePrimerSuspect]

Long story short, I have a car that I hate and basically have no use for anymore. Sad part is that it still blue books for more than I even paid for it three years ago, but because it was hit and I got screwed on the insurance claim (shouyld've been totaled) its essentially worthless. Now it needs work and 4 tires, because it was poorly repaired, and I just can't justify putting any money into it. I actually used to repo cars for a living years ago, so I have a vague understanding of how this works, I'm just worried about my credit. I keep hearing conflicting stories. Some people say nothing happens, others say it screws up your credit. I'm pretty certain that you still end up being responsible for the balance owed minus what it sells for at auction. Just curious if anyone has dealt with this or maybe someone who works in finance could chime in.