Bring all the payments up to date.
YES - the fact that the original term of the lease had past has nothing to do with it since the payments weren't made.
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.
The legal responsibilities of a cosigner on a lease agreement are the same as the tenant without the benefit of tenancy.
Yes. That's the idea.
Yes, all the bank cares about is that someone is making the payments.
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
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.
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.
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.
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.
When the lease expires
Not unless he or she signed the new lease.
they sell the auto at an auction sell it to the highest bidder and you the remainder
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
That is up to the landlord.
The two types of vehicle leases are closed-end and open-end leases. A closed-end lease is a rental agreement that puts no obligation on the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "true lease", "walkaway lease" or "net lease". An open-end lease is a rental agreement that obliges the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "finance lease".
No. Your payments are locked in for the complete term of the lease. However, in case the tax rates increase, then on that way it will affect your payments.
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
No we will not incurred executorycosts in aggregate lease paymentsMinimum Lease payments : Minimum rental payments + guaranteedresidual value + penaltyfor not renewing or extending lease + bargainpurchase optionMinimum rental payments: Regular payment to lessor, exc'lexecutorycosts (ie.insurance,maintenance, tax).
No. A condition of the lease being made is that there will be a co-signer. If no one will co-sign, then you are out of luck.