What to do with a car loan when the car has fail?

So I've purchase this car which is 5 years old a 2012 Honda Accord exl v6 coupe in 2017, I purchase it from a local dealer but it's not a certified pre owned. However I bought the car "As is" in August 2017 and it has fail in December 2017 long story short it needs a new engine cost almost $5000 the mechanic says everything comes to $4827 plus it need suspension and a lot more it has 122,803 miles should I voluntary reposses it or what I'm in a bad situation I owe 7,287 on the loan what to do?

Read more: https://hondanews.net/accord/what-to-do-with-a-car-loan-when-the-car-has-fail.html

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