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Unfortunately; yes you ARE responsible the exact same as if you were the PRIMARY person on the lease. Well sorry. k love yayahs

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13y ago

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Repossession of a leased car in ct?

YES LEASED VEHICLE SCAN BE REPO'D, YOU NEED TO READ YOU LEASE AGREEMENT AND CHACK LOCAL AND STATE LAWS.


Who is responsible for damage to a vehicle during a repossession?

the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.


What is the Capitalized Cost in a lease agreement?

The Capitalized Cost in a lease agreement is the total amount that the leasing company is financing for the leased vehicle, including the vehicle's price, taxes, fees, and any additional costs.


Is it possible for me to sell my leased vehicle before the end of the lease term?

Yes, it is possible to sell a leased vehicle before the end of the lease term, but there are some factors to consider such as the buyout amount, early termination fees, and the agreement with the leasing company.


What is Illinois' law for returning a newly leased or purchased vehicle?

As with any contract, you have three (3) business days to cancel the agreement.


Is a leased vehicle considered an asset?

Yes, a leased vehicle is considered an asset because it has value and can be used to generate future economic benefits.


Can you return a leased vehicle after one day?

why not.


Can a teen drive a leased vehicle?

No They Cannot.


What are the 2 types of vehicle leases?

The two types of vehicle leases are closed-end and open-end leases. A closed-end lease is a rental agreement that puts no obligation on the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "true lease", "walkaway lease" or "net lease". An open-end lease is a rental agreement that obliges the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "finance lease".


What is the homophone for smallest and rent under written agreement?

least, leased


What if you leased a vehicle and a month later find out that the leasing company had no record of the account being set up Can you just keep the car for free or maybe even give it back?

If you leased a vehicle and the leasing company had no record a month later there are a few options. You can keep the car dishonestly and hope someone doesnÕt report it stolen, or save the payments until the agreement is found and updated so when the agreement is found you are not behind. Lastly, you can turn the car back in.


What is a homophone for rent under written agreement and smallest in amount?

leased, least