First off, you broke the law.
Unless it says you can sub lease, you have no right to. In most states it is illeagl to sub.
To answer your question, Yes you can but get your finance company involved. If you came to me to do the job, I wouldntr do it for you without the banks knowledge.. Keep in mind, That is the way I conduct business and might no be the way others do.
most importantly make sure they are insured.
You will receive notices that your payments have not been received, making your auto subject to repossession, but you will not receive a date and time of the repossession.
The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.
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.
The first step is to contact your lender. They will have those answers. It usually involves making up past payments, and paying the repossession fee, and perhaps storage.
It's called repossession. The lender owns the property, the homeowner is making payments.
A repo is a repo is a repo.
No. But, the vehicle will become a repossession if payments are not made.
One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.
Once the loan is in default the bank has the right to refuse payment and repossess the vehicle.
It would depend on the contract you signed when you purchased the car.
That would be pretty difficult to do. Because the action is a repossession, it indicates that the person has a poor record of making payments and an attorney is too smart to take the risk of not getting paid. They will want their money up front.
That would be at the lender's discretion. Call and ask. Banks don't like to repossess and if you are making an honest effort to correct the default they will probably go along with you.