When the lease expires
Late Payment on Apartment LeaseA lease will not show on your credit report; unless there was a judgment against you.
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.
The vehicle will be repossessed and the leasor will be held responsible for the unpaid balance of the lease.
Bring all the payments up to date.
You will need to read you lease contract.
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!
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
A+ Close-ended lease
READ your lease contract. It should specify the results of repossession.