answersLogoWhite

0


Best Answer

YES - the fact that the original term of the lease had past has nothing to do with it since the payments weren't made.

User Avatar

Wiki User

20y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Will it affect your credit if a car is repossessed after the lease has ended?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can you break a lease on a car?

It is possible but not advisable to break a lease on a car. The car would be repossessed, and the repossession would go on your credit report.


How does a late payment on an apartment lease affect your credit rating?

Late Payment on Apartment LeaseA lease will not show on your credit report; unless there was a judgment against you.


When your car is leased when can it get repossessed?

When the lease expires


Will my credit score affect my lease price?

Yes, and even your ability to get a lease. Because of the lower down payment, a lease may be harder to get than normal car financing.


What happens when lease cannot be paid back?

The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.


If you turn in your lease early will it effect your credit?

As long as you pay any early termination fees tied to your lease, and pay off your remaining payments, it will not affect your credit. However, like with any contract that involves money, if you 'run away' from the lease, it can be turned over to collection agencies, which could then harm your credit. Hope that helps!


How to get back a repossessed vehicle if it was a lease?

Bring all the payments up to date.


If you are leasing and your veichle gets repossessed what do you owe?

You will need to read you lease contract.


Can a car be repossessed if the owner dies before the first payment is due?

The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.


How does failure on a business car lease agreement affect personal credit?

Failure on a business or car lease agreement will still be attached to your name and social security number. It will lower your total credit score unless these leases were only attached to the business or someone else's number.


What type of credit is used to lease a building?

installment credit


Which type of lease do most consumers sign when buying a vehicle?

A+ Close-ended lease