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You will have to pay any balance due after the car is sold and then it ruins your credit.

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โˆ™ 2015-07-16 19:25:02
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Q: If you have two years left on a leased vehicle but you can no longer afford the payments can you return the car to the dealer?
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Related questions

If you are including a leased vehicle in a bankruptcy and need a vehicle that you can afford payments on will you have a tough time getting a loan?

There are some creditors that offer car loans to those who' ve filed bankruptcy.

Does an auto dealer such as Nissan have the right to repo a leased vehicle if the vehicle is not insured?

YES. Read your contract. Does it call for you to maintain ins???

If a vehicle leased to you is being driven by ex-fiance who refuses to make payments can you get it legally repossessed?

IF her name is NOT on the title, you can just go get your car.

If you voluntarily let a leased car go because you can not afford it following a bankruptcy will they chase you for the remainder of the lease payments or vehicle value?

Joey, that's a good question to ask your B/K attorney. S/He would be more familiar with your states B/K code.

How do you get out of a leased vehicle?

Open the door!

How do you turn in a leased car?

All you do is call a dealer that sell that make. If not leased by the manufactuer call the leasing company for instructions

Can you return a leased vehicle after one day?

why not.

Can a teen drive a leased vehicle?

No They Cannot.

You just filed for Chapter 13 bankruptcy today and woke up to a tow truck repossessing your leased vehicle is there any way to get it back and do you have to catch up on payments first?

Yes and yes

Can your leased car be repossessed because of no insurance even if you are up to date with your payments?

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.

Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?

First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.

Can I sell a leased car to a third party in CA without a dealer's license?


Who is responsible for damage to a vehicle during a repossession?

the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.

Can a lienholder repossess a car if it is not in default but in the impound?

As long as you continue to make the payments, they would have no reason the instigate a repossession. When a vehicle is financed or leased, the creditor has an interest in the vehicle and rights under the contract you signed. If you are in default of the contract either by default in payment or otherwise (failure to insure or other terms) the vehicle can be repossessed.

What is off-balance sheet?

Off-Balance Sheet refers to assets and liabilities which are not reflected on the Balance Sheet. The most common would be leased equipment or property. A leased vehicle, for example, is not owned by the company - so the monthly payments are reflected as Auto Expense, but there is no vehicle included as a fixed asset, no Accumulated Depreciation and no Loan Payable. Lease obligations are generally disclosed in notes to the financial statements.

How can you buy out a leased car when the lease expired and car was repossessed?

When a vehicle gets repossessed it either goes back to the dealer who leased it, or, and more commonly, it is auctioned by the reclamation company. You would need to attend one of these auctions to be able to bid on one, and even then, a lot of times you have to be a licensed dealer to participate. Check on the local regulations and restrictions on the auto auctions in your area.

Should dealer charge you to change tires on your leased 2014 Fusion with 2500 miles?


How do you find where your old leased vehicle is?

Purchase a Car Fax report.

Repossession of a leased car in ct?


Can you put a lien on a leased car?

If it's leased from you, there's no need for a lien, as the terms of the lease already cover what a lien would cover insofar as asset recovery goes. If you're leasing the vehicle, then no, since you don't own the vehicle to put a lien on to begin with. Mechanic's liens, and government liens (e.g., impound liens), however are still applicable to a leased vehicle.

How do you register a leased car in NJ?

Even leased cars must be registered to the leasee. You must go to your local department of motor vehicles to have your vehicle registered.

What if the leasee of a leased vehicle dies?

The answer depends on how the lease is written. If the lease payments stop then the company can choose to repossess the vehicle. If the family of the deceased and the company can reach an agreement then the family could take over the lease if all parties agree. as a death is involved an attorney may need to be involved.

Can you get vehicle leased if you don't have a valid driver liscensce?

Yes u can snartypants

Can a deceased person in Texas be sued for the return of a leased vehicle?

Yes, the estate can be required to return a leased vehicle according to the terms of the lease. If you read the fine print, it's there. Do you think that the vehicle should remain the property of the estate when it was only leased in the first place? That's the idea of a lease, the vehicle belongs to the leasing company and they let you use the vehicle for the terms of the lease. The terms of the lease are defined in the contract. If the estate of the deceased has been sued, I'm sure it is consistent with the terms of the contract.

Why would dealer take back a leased car early and offer a newer one?

Cause they have a buyer willing to pay top dollar for your car. So they will offer you a new one with new payments, and sell your car to the other buyer. It's all about the $$$$$

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