I haven't paid my leased vehicle in 4 months... almost 5. I hear if you it gets repoed you can't get it back... is that true?
2007-03-28 04:09:28 · 4 answers · asked by Juanita C 1 in Business & Finance ➔ Credit
I believe once they come and get it, its over. Since you havent paid you have voided the contract. They will more than likely hound you for the balance. Which if taken to court, which I have seen done. You will have to pay or get a judgement against you.I would not lease if at all possible unless you are a business and can write it off.
2007-03-28 04:26:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you are able to work out a plan with your dealership or contact the agency that repoed your vehicle, they should be willing to work something out with you.
They may ask for you to pay the four or five months that you were late, plus the sixth month, but just call and see what you can find out.
2007-03-28 04:29:43 · answer #2 · answered by Lyndia 2 · 0⤊ 0⤋
Actually, no, you cannot get it back. In addition, you will have major problems purchasing another car for the next several years, because of the repossession on your credit. In addition, once the car goes to auction, the lender (who you are leasing from) will sue you for the difference in what it sells for (wholesale) and the balance of the lease contract.
You're best bet is to try to make up the payments, and keep the car.
2007-03-28 04:35:54 · answer #3 · answered by lincman90 3 · 0⤊ 0⤋
if you give them all the money you owe them, they will give it back.
2007-03-31 13:09:12 · answer #4 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋