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Lease or retail installment loan-dosen't matter. You call your lienholder, get your pay-off and sell your car. If your pay-off is greater than what you are selling the car for, "you" simply pay that "negative equity" to your lienholder. If you sell your car for $15,000.00 and you owe $20,000.00 you have to pay your finance company $5000.00 and you are done. The $5000. is called negative equity.
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∙ 16y ago
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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.
Can our landlord force us out before our lease is up if they sell the condo?
Review your lease to find the answer you want.Otherwise, you may be able to negotiate your continued tenancy with the new owner.
If you have a lease and can't pay any more and you are late a couple of months on top of that what will happen if you turn the car in?
Read your lease. it should addrewss what will happen if you turn it in before the lease is up. Likely you WILL have to pay.
Can i sell my car so it can be taken out of the impound before the 30 days are up?
If I sell my car while it's in the impound can the new regesitured owners get out before the 30 days
Will returning a car lease before lease is up affect your credit?
Yes it will,the lease company will sell the car at the acution and put any money toward your ballance and if there is still a ballance left over they will sue you for it. If you have several months left on your term you can use the online lease take over search engine CarLeaseDepot.com. Car Lease Depot offers an amazing search and find car lease experience to anyone looking to get out of a lease early or take over a short team lease. They are the cheapest and appear to have a very high quality website compared to most other lease assumption sites. See some of the others and make an educated decision for yourself. See for yourself but please do not return you car and run because it will hurt your credit so bad that you will be able to get any new credit for a long time to come. This is a binding contract and just because you return it doesn't mean that you will receive a free pass.
Does a car lease show up on your credit report as debt you owe?
yes it does because when u get approved for a car lease, they use the same verification as if you were buying a car. They check the three main credit bureaus which are transunion ,experian,and equifax.
If you give you leased car back before the lease is up do you have to pay anymore on it?
YES, You are still obligated to complete your term of lease contract.Even if you are purchasing or leasing another vehicle and decide to trade or turn in your current lease YOU STILL OWE THEM!!!!! The leasing company is still entitled to remaning payments.. Best to look at your lease agreement...
What happens if a car lease is up and car is in police impound for evidence?
This is going to be expensive! If the car is crashed or stolen and an insurance company is going to deal with this then they will have to pay the costs. If the lease is up and the car can not be returned to the leasing company the lessor will need to pay for either the extra time or the whole car.
Sell and lease back?
Where you sell an assets (usually land or a building) to a third party and then lease it back/ rent it, this technique is used by business to free up cash tied up in non-current assets but still retain use of those assests
If your Father diesmother cannot drive should you call insurance co with two yrs left on car lease without giving up lease?
You may have a contractual oblogation to notify the car leasing company if the lease was in your father's name.
How can you get out of your apartment lease after signing on before your lease is up in April 30 2009?
You could look for someone to sublease your apartment or ask if the landlord would be willing to let you break the lease early with a penalty fee. Another option could be to negotiate with your landlord to find a mutually agreeable solution.
Can you trade in a car your upside down on for a lease?
Sure, you can trade it in, but you will have to make up the difference in $$ between the selling price and what is still owed on the original lease.
