They repossess it anyway and you could be responsible for the repair cost, depending on the lease contract.
Yes
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It depends on the terms of the lease. The lease may terminate or the lease may "run with the land."
Nothing changes as far as your lease goes.
What typically happens is that the party financing the lease will repossess the vehicle. The vehicle will typically be sold and the party financing the lease will attempt to collect the balance remaining under the lease either through a collection agency or through formal legal action.
They have violated the lease contract and can be held liable for damages.
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
lease is subject to termination with proper notice
When a lease is up, the tenant must move out of the rental property unless they renew the lease with the landlord. The landlord may choose to offer a new lease with updated terms or decide not to renew the lease. It is important for both parties to communicate and plan ahead before the lease expiration date.
If you leave before your lease is up, you may be responsible for paying a penalty or the remaining rent until the end of the lease term. It's important to review your lease agreement to understand the specific terms and consequences of breaking the lease early.
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.
If you leave your apartment before the lease is up, you may be responsible for paying the remaining rent until the lease ends or until a new tenant is found. This is known as breaking the lease, and it can have financial consequences.