What does it mean when you fail to turn in a leased vehicle on time and it is charged off as bad debt... is the vehicle now mine and do I get a title or is it still the lease comapn's car until paid for or returned

Hello s:

Charged off is a "tax" term that has to do with how THEY report the car. It doesn't mean ANYTHING to you. No, you don't own the car. Yes, they're going to sue you for it.

excon

And in many US states you can be charged criminally for not turning it in. So besides the money issues of being sued for its value,

Expect it to be repo'ed and perhaps the sheriff at your door.