0
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?
Wiki User
∙ 16y ago
Both. You will owe the balance of the lease, payoff on the car, mileage, and repo fees, including storage and auction costs.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What is the past tense of lease?
The past tense of "lease" is "leased."
What is lease land?
Land that is subject to a lease or land that can be leased
What is the past tense of a lease?
leased
When your car is leased when can it get repossessed?
When the lease expires
Can your wages be garnished for an auto lease repossession in Florida even if the leased vehicle has been turned in?
Yes, if there is still an amount owed.
What is the homophone for smallest in amount and rent under written agreement?
They leased an apartment for about a year.I want the cupcake with the least amount of frosting on it.
What is a leased to own a home?
"Lease to own", Is when you lease a house with the intention to buy it for a discounted price after the lease is over.
What is the difference between operating lease and financial lease?
A finance lease is a form of financing that transfers substantially all the risks and rewards incidental to ownership over a leased asset from the lessor to the lessee. By signing the contract and delivering the leased asset, the lessor transfers economic ownership over the leased asset, while legal ownership is transferred only upon the expiration of lease, on payment of the final instalment. In a finance lease, the lessee uses the leased asset for most of its lifecycle, as with loans.An operating lease is a lease whereby all the risks and rewards incidental to ownership over the leased asset remain with the lessor. In this case, the lessor retains the economic and legal ownership over the leased asset, while the lessee has only right of use. Upon the expiration of contract, the leased asset is returned to the lessor. Under an operating lease, the lessee uses the leased asset for less than its useful life.
What are the rights of co-leasees on a car?
They have the right to the use and possession of the leased care and they have the full responsibility to pay the cost of the lease, the insurance and overages.They have the right to the use and possession of the leased care and they have the full responsibility to pay the cost of the lease, the insurance and overages.They have the right to the use and possession of the leased care and they have the full responsibility to pay the cost of the lease, the insurance and overages.They have the right to the use and possession of the leased care and they have the full responsibility to pay the cost of the lease, the insurance and overages.
What is the operational leasing?
Operational lease is short-term lease and it normally does not cover the full economic life of the leased asset. The lessor bears all risks and rewards, connected with the ownership of the equipment, and provides to the lessee maintenance services for the leased machines and equipment. In terms of taxation, the lessee is entitled to deduct the full amount of the lease installment from its taxable profit.
Are cars available with a lease to purchase option?
Most cars that are leased are now availiable with a lease to purchase option. At the end of the contract, you may purchase the car for an agreed amount. But don't forget to look at the depreciation the car has exprienced.
How can Flickr afford to give users 1TB storage?
Flickr can afford to give users one terabyte of storage because of the immense amount of server space they own and lease.
