Legal Question in Consumer Law in New York

new vehicle

I bought a new vehicle a few months ago and I cannot afford the payments, they advised me to bring the vehicle back instead of having it repoed. What is the consequences?


Asked on 2/29/08, 10:49 am

2 Answers from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Re: new vehicle

Most likely the company will mitigate damages by either re-leasing or selling the vehicle. You would be responsible to the company for the difference (money from your agreement less money received from mitigation of damages).

Mike.

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Answered on 2/29/08, 10:59 am
Steve Brodsky Esq. CheapNewYorkLLC.com

Re: new vehicle

This depends on what it says in the contract. Typically, you will be responsible for any remaining payments.

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Answered on 2/29/08, 11:54 am


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