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    girl21's Avatar
    girl21 Posts: 5, Reputation: 1
    New Member
    		  
    #1

    Jul 23, 2009, 07:29 PM
    Lease car
    I lease my car,now am no longer able to pay the note or insurance, I just got laid of from work the main reason for leasing that car was to get to work,now that am unemployed I found myself struggling to pay my car note or keep a roof over myself & kids head,can I returned the car after driving it for 1yr 7mths with out a penalty.
    girl21's Avatar
    girl21 Posts: 5, Reputation: 1
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    #2

    Jul 23, 2009, 07:31 PM
    Lease car
    I lease my car,now am no longer able to pay the note or insurance, I just got laid of from work the main reason for leasing that car was to get to work,now that am unemployed I found myself struggling to pay my car note or keep a roof over myself & kids head,can I returned the car after driving it for 1yr 7mths with out a penalty.:):):):):):)
    Justwantfair's Avatar
    Justwantfair Posts: 3,422, Reputation: 944
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    #3

    Jul 23, 2009, 07:35 PM
    You need to review the terms of your lease.
    Have you communicated your situation with the lessor?
    girl21's Avatar
    girl21 Posts: 5, Reputation: 1
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    #4

    Jul 23, 2009, 07:39 PM
    Lease car
    I lease my car 1yr6mths ago,I recently lost my job,am struggling to pay my car note and insurance plus keeping a roof over myself and kids heads, Can I returned the car with out a penalty since I can no longer afford it.:
    Justwantfair's Avatar
    Justwantfair Posts: 3,422, Reputation: 944
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    #5

    Jul 23, 2009, 07:41 PM
    You need to review the terms of your lease.
    Have you communicated your situation with the lessor?

    Asked and responded, please only post your question one time. Thank you.
    450donn's Avatar
    450donn Posts: 1,821, Reputation: 239
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    #6

    Jul 23, 2009, 07:46 PM

    A lease is generally just like a car loan, You bought it! The difference is that you did not make as large of a down payment as a purchase. Your choices are, let them repossess it and take the hit on your credit rating, or find someone to take over the lease from you. Sorry. Been in the same boat for almost 6 months now, and it isn't pretty out there.
    johnnyj1966's Avatar
    johnnyj1966 Posts: 1, Reputation: 1
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    #7

    Jul 23, 2009, 07:51 PM

    No, you can not return the car without suffering a penalty. If you "return" the car it will be considered a voluntary repossesion and will negatively effect your credit history.
    girl21's Avatar
    girl21 Posts: 5, Reputation: 1
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    #8

    Jul 23, 2009, 07:55 PM
    Quote Originally Posted by johnnyj1966 View Post
    No, you can not return the car without suffering a penalty. If you "return" the car it will be considered a voluntary repossesion and will negatively effect your credit history.
    So what do you suggest I do.plsh:o
    girl21's Avatar
    girl21 Posts: 5, Reputation: 1
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    #9

    Jul 23, 2009, 08:04 PM
    Quote Originally Posted by 450donn View Post
    A lease is generally just like a car loan, You bought it! The difference is that you did not make as large of a down payment as a purchase. Your choices are, let them repossess it and take the hit on your credit rating, or find someone to take over the lease from you. Sorry. been in the same boat for almost 6 months now, and it aint pretty out there.
    Thank YOU.:confused:
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #10

    Jul 23, 2009, 10:15 PM
    >THREE Threads Merged<
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