2006-10-20 21:40:55 · 6 answers · asked by slvough 1 in Cars & Transportation ➔ Buying & Selling
if car was repossessed that means the term of the loan or lease was not full filled nor paid. meaning person who's name the car is in is now liable for the repo fee's, storage and the lease itself.
just cause the car is gone doens't erase the debt or responsibiltiy.
2006-10-20 21:43:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Cars are NOT reposessed at the end of the lease, unless the lessor fails to turn it back to the leasing company when due.
The lessor is responsible for any excess mileage and any damage beyond fair wear and tear. If the leasing company has to reposssess the vehicle at lease termination, the lessor will be responsible for the repossession costs as well.
Once the vehicle is turned over to the leasing company at the end of the lease, they assume responsibility for the vehicle. The lessor is still liable for any damage claims or law violations that arose prior to lease termination.
2006-10-21 12:36:24 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
In CA. it would be the registered owner. (person repo'd from). Financial responsibility is still in the contract & your obligation.
2006-10-21 04:51:40 · answer #3 · answered by T1Vixen 2 · 0⤊ 0⤋
legal responsibilty goes to the person who repossed it.
2006-10-21 04:43:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
how? pls provide details.
2006-10-21 04:43:32 · answer #5 · answered by Dr Dee 7 · 0⤊ 0⤋
YOU
2006-10-21 04:48:34 · answer #6 · answered by ShaLahLah 2 · 0⤊ 0⤋