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Can the cosigner who has been making the lease payments have the car repossessed so he can use it?
Wiki User
∙ 8y ago
Don, IF your name is on the title as co-owner, you would just be taking possession of your own car. If its NOT on the title, you cant take possession legally.Why not go to the person in possession and tell them to give up the car??
Wiki User
∙ 8y ago
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How to get back a repossessed vehicle if it was a lease?
Bring all the payments up to date.
Will it affect your credit if a car is repossessed after the lease has ended?
YES - the fact that the original term of the lease had past has nothing to do with it since the payments weren't made.
If someone cosigned a lease to your apartment can they take their name off the lease even if you have been paying the payments?
No. Once a cosigner has signed the contract the only way they can be removed from the responsibility is a new agreement being made without the assistance of the original cosigner.
Can a cosigner on a lease evict a tenant?
no
What steps are involved in reposessing a car?
As soon as a lease expires on a vehicle that you have in your possession or you default on one of your car payments, the owner has the right to have your vehicle repossessed.
If a person needs a cosigner to lease a car will their credit improve if they make payments on time?
Yes, the owner as well as the co-signer will be affected when you lease a car, being it negative or positive it will have an impact on both credit reports.
Can someone lease a car and someone else make the payments?
Yes, all the bank cares about is that someone is making the payments.
Does your cosigner have to be present when signing the lease?
Yes.
Is a cosigner of an auto lease obligated to pay the lease?
Yes. That's the idea.
Can your leased car be repossessed because of no insurance even if you are up to date with your payments?
If the terms of the lease include the requirement that you must provide insurance on the vehicle, and I've never seen a lease agreement that doesn't, yes, they can hold you in violation of the lease and repossess the vehicle.
What are the consequences of not making car payments?
If you do not make car payments you will default on your loan or lease. It will ruin your credit and end up with a repossession.
Can a coporation deduct a lease payment?
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
