0
can someone other than the owner of a car reposess a leased car from you. if the contract does not show a payment due date?
Wiki User
∙ 15y ago
The leasing agreement shows the payment terms, including the amount and due date. The lease should also have language pertaining to repossession. The owner of the car has to file a request to get permission to repossess the car and, once permission is granted, can engage the services of a repo agent. When the request to repossess is made to the court, the owner or leasing agent must show that payments are in arrears.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Can they repo a leased car 2 months before the end of the contract with payment schedule in place?
READ your lease. The lender can repo as long as you are in DEFAULT. As long as there is money owed on a contract, the collateral can be repossessed IF the contract is in default. Subject to some state guidelines.
When you sign a contract with your co purchaser and leased your car did he have the right to take the car back to the lot and get a full refund on the downpayment with out your knowledge or consent?
Technically yes, he probably did, but you are entitled to your part of the payment.
Can you return a leased car that was forced on you?
IF you signed a contract, it wasn't forced on you. If you didn't sign a contract you can return it as you wish.
Can any insured driver drive someone else's insured leased car?
You are covered if you are a licensed driver regardless what they say. A leased vehicle is owned by the leasing agency not by the person who is leasing it. The terms of the contract will designate who may or may not drive the vehicle and nothing else applies.
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 expenses for leased owner operator truck drivers?
Fuel, insurance, maintenance and truck payment.
Can a lienholder repossess a car if it is not in default but in the impound?
As long as you continue to make the payments, they would have no reason the instigate a repossession. When a vehicle is financed or leased, the creditor has an interest in the vehicle and rights under the contract you signed. If you are in default of the contract either by default in payment or otherwise (failure to insure or other terms) the vehicle can be repossessed.
Is leased land exempt from probate procedure?
The contract is an asset of the estate and is going to be subject to the probate procedure.
Is it illegal that tenants add someone to the leased address without owner's consent?
In most cases, yes, it is illegal for tenants to add someone to the leased address without the owner's consent. Doing so could violate the lease agreement and potentially lead to legal consequences. It's important for tenants to communicate with the landlord and get approval before adding someone to the lease.
Does a for-hire contract commercial driver require a motor carrier registration?
To drive someone else's truck, or to drive their own? If they're leased onto a company, they'll take on that company's ICC/MC and USDOT number.
What age can you sign a leased agreement in UK?
You cannot legally sign any contract unless you are at least 18 years of age.
Does an auto dealer such as Nissan have the right to repo a leased vehicle if the vehicle is not insured?
YES. Read your contract. Does it call for you to maintain ins???
