i looked up lease agreements and found out what i could but i don't get it, if you lease a car and don't own it cuz you are leasing and u can't afford it anymore is there anyway to give it back and shit?

cuz leases are supposed to be for a certain amount of time is what i read, but like u lease a 12000 dollar car and its now worth like 5000 and u dont want it anymore but u payed like 5 on it already, are places supposed to help u out or are they allowed to be ass holes and u just gotta go to collections and deal wit it that way?
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its not my car, i would never lease, but still anyone?

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lol


Welcome to the UPSIDE down world of NEGATIVE equity bro.


1

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Youtube Video for my song "CARRY ON"

well tell me about me more about it and lets do a collab called "negative equity"

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A lease is very much like a long term rental. With vehicles, leases are often meant as a long term way of paying off the car as a whole. With that said, I've always been under the impression that when you lock into a leasing agreement, you're required to pay the amount of money specified over "X" amount of time. If you decide you don't want to do it anymore, you can "sell" your car by getting somebody else to take over the lease payments, but that's really your only way out.

It's no different than if you were leasing an apartment per se. If you decided 6 months in to a 12 month lease you didn't want to live there anymore, you'd still be required to pay all 12 months you agreed upon. You signed the contract and you now have to abide by it, there's nothing upside down about that.

If you're not sure you can afford to pay the monthly lease, or may change your mind down the road, then don't get into a leasing agreement. It's that simple.

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its a longs story, but if theres two people on the lease and the other person does wanna take it over it should be as simple as that and the other person should be able to get there name off the lease. enless credit of one of the people is a lot worse than the other, idk, shits fucked up. i wish i was in the mob, shit would be settled much easier

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Well yes, ideally it would be that easy. Truth is, a lot of times there's two people on the lease because the credit of one of the lessee's is less than perfect. The lessor then agrees to lease it to the pair under the condition that if one person cannot meet the required payments, that the other person will pay, similar to a co-sign.

So if your friend has a good credit score, he may be able to push the lease on to himself, but if he's the latter, then he may be out of luck. Either way they should talk with the company and see what they can work out, no harm in that.

And keep in mind they CAN sell the car, it's just a much different type of sale and quite frankly a terrible time to do so, depending on the car of course.

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yeah, i know its a terrible time to sell a car.
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and the company is a piece of shit and is very unproffesional, they prolly won't put it on just the lesser so i'm thinkin either just try to sell it and finish with the rediculous payments or let them take it to collections and run the risk of ruining the persons credit.
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Just dont pay your bills....

Have a look into the rules for debt collectors man... their whole profession is a big joke unless your in REAL debt..

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RIP jono, peace out bboy.
Pardon Canada Criminal Record Pardons Services Toronto

its only like 8 g's right now if dude doesn't pay anymore on it, but i will take a look into that cuz i got ten g's in the hole from college, u should send me a link to sumin about it if u have the time, but i'll check it out myself too

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Depends how much your short term credit means to you man...

and by short term i sort of mean like 2-5 years.....?

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RIP jono, peace out bboy.
Pardon Canada Criminal Record Pardons Services Toronto

i plan on makin enough money soon enough to deal wit things, till then i aint payin shit

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