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Repossessions can be as quick as 30 days after a delinquent payment. It is up to the owner of the vehicle, in your case the financial institution, or automobile dealership how much leniency they are willing to offer you in making a payment. If you fail to stay current on your lease terms you will receive mail letting you know that you must surrender the vehicle. If you do not surrender to vehicle, the owner and and will take legal recourse - you can count on the local law enforcement knocking at your door any time day or night. They may even remove the vehicle from it's location, with out you even being there. They watch your habits, and know your schedule before the collateral is taken back from you. Say good bye to your credit, if this is the road you plan to travel. I do not advise holding onto anything you have borrowed longer than is stated in the lease agreement.
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∙ 15y 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.
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.
How long should you wait to add someone to your lease?
I would wait alt least a moth before adding someone new to your lease. But really it all depends on who it is and how well you know the person.
What does Huur gaat voor koop mean?
A term which means ‘lease goes before sale’. Where leased premises are sold before the lease has expired, the tenant may in terms of the “huur gaat voor koop” rule occupy the premises until the lease expires. In the case of a long lease (i.e. a lease for a period of 10 years or longer), this applies only if the lease is in writing and registered against the title deed of the leased premises, or if the purchaser at the time of conclusion of the sale knew that the lease was a long lease.
What are the release dates for Reposessed - 2006?
Reposessed - 2006 was released on: USA: October 2006 (Shriekfest Horror Film Festival)
Should you buy reposessed car?
I would avoid purchasing a reposessed car because in some cases, cars that are reposessed are trashed. I had a friend who looked at a car that was a repossession and there were things missing from the car (radio with CD player). I would avoid purchasing a reposessed car because in some cases, cars that are reposessed are trashed. I had a friend who looked at a car that was a repossession and there were things missing from the car (radio with CD player).
Can your car be reposessed if you are in hospital?
Yes
What happens to a lease if the property is subdivided?
You should read that lease before you make any changes. The land described in the lease is subject to the terms of that lease. You may be breaching the contract by subdividing the property before the lease has expired. The changes you make to the area of the leased land don't change the provisions of the lease unless that is also a provision. You should consult with an attorney before you take any action unless you have the consent of the lessee.
What are the remedies when a lender agreed to accept payment in full the following day but reposessed the night before anyway?
Lesson learned: Lenders LIE !!!!!!!!!!!!!!!!!!!!!!!!!!
Can a car get reposessed if the previous owner owes finance on it?
Yes. Prior liens must be paid off before you take title to the vehicle.
Does a lease release or a amendment have to be signed to lease to someone else?
It depends on the terms of the lease that is in effect now. If you have a lease that does not allow for a sub-lease (or whatever you are trying to do), then yes, you will have to get the agreement of the landlord before sub-leasing.
If the apt doesnt measure up how long do you have to terminate the lease?
You need to check the language in your lease to determine what your rights are in terminating the lease.
