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If you have stopped making the lease payments, you have forfeited the car and you have no rights. Basically, by not making the payments, the lender believes you no longer desire to have the car and they will take it back and sell it to somebody that really wants that car and is willing to make the lease payments. Usually, any monies you paid during the lease are also forfeited ... you walk away with nothing, basically. Always always read ALL the fine print before signing any document.
You may also be responsible for all the costs associated with the repossession, any damages and depreciation.
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∙ 12y ago
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Your husband is not on your car lease loan will he be held responsible if you do a repo?
no
If a car was purchased in Louisiana and now it is in Texas what are the lien holders rights to repo the vehicle?
the lienholder can repo at anytime as long as there is NO breach of peace.
Can a repo car lease be reported stolen too by the financial company?
No! If this is a threat by the finance company contact a attorney. He/She will advise you what you need to do.
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.
Can you do a voluntary repo on a lease vehicle?
yes, contact your leinholder and tell them that you will no longer be making any payment and where they would like for you to leave the car
Is their any penalty for a repo lease?
I would imagine there is. Lease is somewhat like a loan and I am sure there is a clause in there for repo, you are still the signer and anything that happens will fall on you to pay.
If you're in chapter 7 and have the money to pay off the loan on a car can the lease company still repo the car before the court date?
One you file for bankruptcy, you are protecting the automatic stay. The lease company can't legally do anything to repo the car without filing a proper motion with the court. One purpose of the automatic stay is to give you time to get your affairs in order and make arrangements to keep the vehicle.
Can a car lot reposed an automobile if its been seized by the police?
yes the car lot has all the rights because until the car is paid in full it is still titles to the car lot the impound lot will have to turn the car over to the repo man or repo man can file charges
How do you get a car repoed witthout owner knowing?
Unless you have a lien on the car, you have no rights as far as repossessing the vehicle goes. If you send a repo agency - even as a joke - and they collect the car while you have no legal claim to it - then both you and the repo agent have committed theft.
Will able to purchase a car after a repo?
Will i be able to purchase another car later on if my car is repo
Can your car be repo after 38 day's?
can my car be repo 38 day's in default?
Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.
