Legal Question in Credit and Debt Law in California
Voluntary Repo of Leased Vehicle
I leased a 2000 Ford XLT and with all of the bad publicity and the fact that my sister was almost killed in one I voluntary returned it to the dealer. I never missed a payment, kept it insured ($300K). I let this vehicle set up in my gargage for seven months because I was afriad to drive it. The individual that sold me the car stated that she could be me out of the lease and into another vehicle if I had more money. She kept promising and promising and in the meantime, I kept the payments up, but purchased another vehicle. I also spoke with the Bank that financed the vehicle and told them what I was trying to do. HELP! I tried trading the vehicle and no one wanted the vehicle; all dealers advised me to get another vehicle, which I did and all offered to put me in any vehicle I desired. What can I do to alleivate this problem? Can they garnish my wages???? What can I do. I don't like the idea of bankrupty, but I have considered it. I got screwed on the deal from start to finish. Signed HONEST BUT BROKE
2 Answers from Attorneys
Re: Voluntary Repo of Leased Vehicle
Dear Honest,
The XLT. Is that like a Tempo? Anyway, I am sorry you have not driven the car since you have paid for it. The problem here is that you probably signed a fairly comprehensive and retrictive contract that most lease companies are reluctant to let the people who sign them get out of. You should communicate with the dealer and the leasing co. you are bringing the car back, document everything and try to negotiate with the lessor aobut getting out of the deal. You may be well served by retaining an attorney.
Good luck and thank you for your question-Martin
Re: Voluntary Repo of Leased Vehicle
If I understand you correctly, you've already returned this vehicle to the dealer and it is out of your possession? If so, the dealer may have already sold the vehicle, and, if he hasn't sued you already, may be doing so soon, for the remainder of the lease payments minus what he re-sold the vehicle for. If he does get a judgment, he can garnish your wages. To avoid this, bankruptcy is one alternative. My office frequently helps clients avoid bankruptcy by negotiating debts down to an acceptable compromise. If a suit hasn't been filed yet, there may be some other defenses you have. To answer your questions more fully, I'd have to talk to you to get more details. Feel free to call me at 818-240-0484.
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