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YES - the fact that the original term of the lease had past has nothing to do with it since the payments weren't made.

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โˆ™ 2003-12-29 07:22:17
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What is forfeiture

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Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

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Q: Will it affect your credit if a car is repossessed after the lease has ended?
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Related questions

When your car is leased when can it get repossessed?

When the lease expires


How does a late payment on an apartment lease affect your credit rating?

Late Payment on Apartment LeaseA lease will not show on your credit report; unless there was a judgment against you.


Will my credit score affect my lease price?

Yes, and even your ability to get a lease. Because of the lower down payment, a lease may be harder to get than normal car financing.


What happens when lease cannot be paid back?

The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.


If you LEASE a car and have it voluntarily repossessed will you still owe money on it?

Yes


How to get back a repossessed vehicle if it was a lease?

Bring all the payments up to date.


If you are leasing and your veichle gets repossessed what do you owe?

You will need to read you lease contract.


If you turn in your lease early will it effect your credit?

As long as you pay any early termination fees tied to your lease, and pay off your remaining payments, it will not affect your credit. However, like with any contract that involves money, if you 'run away' from the lease, it can be turned over to collection agencies, which could then harm your credit. Hope that helps!


Can a car be repossessed if the owner dies before the first payment is due?

The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.


What type of lease do most consumers sign?

A+ Close-ended lease


What type of credit is used to lease a building?

installment credit


What happens when your leased vehicle is repossessed?

READ your lease contract. It should specify the results of repossession.

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