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โˆ™ 2006-07-01 01:11:04
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Q: Do you have to pay the balance on a lease if you volunteer to surrender the car?
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If you volunteer a reposession on a lease car and the car is not operable what happens?

They repossess it anyway and you could be responsible for the repair cost, depending on the lease contract.


What happens when you total a lease car?

When a lease car is totaled, the car company will require the car lessee to pay the lease balance to get out of the contract. This is applicable for a wrecked car and non-reparable vehicle.


Can you trade in a car with a balance to lease a car?

There should be no balance in trading each car. No one will accept the kind of deal.


If you lease a car and file for bankruptcy what happens to the car?

You will most likely still owe on the lease but the balance due might be dischargeable. But you will for sure lose the car. A bankruptcy attorney will be able to tell you for sure.


Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?

A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.


What if your husband files bankruptcy and you have a leased car?

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When a leased car is reposessed do you owe just the amount left on your lease or the full amount of the car if you can't afford to pick it up and you let them keep it?

Both. You will owe the balance of the lease, payoff on the car, mileage, and repo fees, including storage and auction costs.


Can you add a name to a car lease?

can a name be added to a car lease


Where can one compare car lease quotes?

One can compare car lease quotes at the website Lease Compare. Leases can also be compared at Car Lease Deals, Cars Below Invoice, Top Car Lease Deals and M oney Supermarket.


What if you want your vehicle repossessed?

I heard if you surrender your car back to the bank the loan is from, they will auction the car to get money back, if they DONT get the whole amount of what you OWE on the car... They will bill you the balance.T


What does lease busters do for someone?

Lease Busters helps to find someone to take over the lease of your car or for you to find a car to lease without hassle, you can take over someone else's lease. Lease Busters has a thorough Process Checklist and Offer-To-Lease form to help you in your decision for your car.


If you surrender your car because you can't afford it how much do you have to pay on the balance?

IN MOST CASES ONCE YOU GIVE THEM BACK THE CAR THEY WILL RESALE IT AND IF THE CAR WAS ORIGINALLY 15 THOUSAND BUT THEY COULD ONLY SELL IT FOR 13 THOUSAND THAN YOU WOULD HAVE TO PAY THE REMAINDING BALANCE WHICH IS 2 THOUSAND


What is a car lease?

A car lease can be thought of as a long-term car rental. If you choose to lease rather than buy, you will not own the car. You will simply be leasing it for a predetermined period of time. When you lease a car, you are not leasing it from the car dealer itself. You instead lease it from a leasing company, who in effect buys the car and rents it to you in exchange for your monthly payments. This leasing company can be the financial arm of large automakers (such as GM Finance or BMW Finance) or may be an independent leasing company of the dealer's choice. The dealer generally acts as an agent on behalf of the leasing company in negotiating the terms of the car lease. The most common type of car lease is called a "Closed End Lease". In this type of lease, you and the dealer agree on the length of time and interest rate at which you will lease the car, and also on the final value of the car at the end of lease (called the "residual value" of the car). When your lease is over, you can either turn your keys in or you can exercise the option to buy the car at the pre-agreed residual value. It should be worth noting, that an open-ended lease is practically unheard of these days. Any legitimate car dealer should be offering a closed-end lease.


Can you lease a used car?

do dealers lease used cars


Can i buyout my car lease while in a chapter 13?

In Chapter 13, you have the option to continue to pay for your car lease payment or you can opt out of your car lease payment. The trustee may not allow you to buyout a car lease if other outstanding secured debt needs to be paid.


Where can I find a car lease calculator?

Edmunds is the best site to go to to find a car lease calculator to help you make accurate calculations on what your brother is paying with his car lease payments.


What happens if you give up a car before lease is up turn into dealership after 13 months on a 3 year lease?

If you give the car back to the car dealership before your lease has expired, then the lease is over. You stop paying the monthly payments. This is very common in people who want a low monthly payment, thus they get a long car lease and then end up trading back in the car for a new car before the lease has expired.


How does one takeover a car lease?

One can takeover a car lease relatively easily. Usually the person wanting to break their lease is doing this for financial reasons. To takeover a car lease, one needs to amend the lease papers and than they can take over the lease for the rest of the term at the same payment plan as before.


Can a 16-year-old lease a car with a parents signature or can they not lease a car at all?

No, a 16-year old can not enter into a legally binding contract AT ALL, even with a parents signature. However, the parent can enter into a car lease and then give the car to the kid, but the child cannot get a car lease.


What is meant by a balloon payment on a lease car?

A balloon payment refers to the last payement you make on a car that you got as a long term lease. At the end of the lease you can either make a balloon payment and buy the car, or you return the car.


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.


Who can help me with a complicated Car Lease in Detroit, MI?

I think Detroit car leasing can help you in complicated car lease in Detroit, MI


How much money does a car salesman make on a 3 yr lease?

how much does a car saleman make on a lease


Where can one go to auto lease a vehicle?

You can lease a car from most dealerships. You can only lease new vehicles and not every vehicle is available to be leased. To lease a car you simply make a small down payment. Usually less than 20% of the cars value. Then you make monthly payments for the rest of the lease. When the lease expires you have to return the car.


Is it better to lease or purchase a car?

Buy the car