Legal Question in Business Law in Florida
Breaking an auto lease
My company has recently drastically reduced my rate of pay. I currently have two leased vehicles that I am not sure I will be able to pay for. One is half way through a three year lease and the other is 9 months into a three year lease. What are my legal options relating to returning the vehicles early? What may I be liable for if I do this?
Asked on 10/12/99, 8:09 am
1 Answer from Attorneys
Randall Reder
Randall O. Reder, P.A.
Re: Breaking an auto lease
Your obligations are spelled out in the lease
agreements. In all probability, you do not have any
right to terminate early and are liable for the full
three year period. If there is an early termination
clause, it usually has a substnatial penalty. The fact
your job status or pay has changed is totally irrelevant.
Answered on 10/13/99, 6:50 pm
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