Redeeming repossessed car

This is a discussion on Redeeming repossessed car within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; I live in California and am trying to buy out what I owe on a leased car that was repossessed. ...

Consult Your Own Personal Lawyer Now!
Reply

 

Thread Tools Search this Thread Rate Thread Display Modes
Old Jan 24th, 2007, 09:43 PM   #1
Unregistered
Guest
 

Unregistered's Avatar
 
Posts: n/a

Default Redeeming repossessed car

I live in California and am trying to buy out what I owe on a leased car that was repossessed. When I leased the car, I signed up for a "Service Contract and/or Maintenance Plan" which cost $990, for the 3 years of my lease. The lease was canceled as a result of the repossession, and I had the car for approximately 1 year. Should I have to pay for the 2 years left on the Service Contract that is no longer enforce or should this amount be deducted from the buy out price of the car?
I also had a "Red Carpet Lease "WearCare" Addendum that cost $575 that was added to the price of the lease, which is no longer valid. Can I have this deducted from the price of the buy out?
I received a certified letter which included a "Gross Early Termination Amount". Included in this amount are storage fees. But, when I spoke to their leasing representative to get the "bottom line" they quoted me a higher price & storage fees are not included.
Also, can they charge taxes on document fees? Thanks...
  Reply With Quote
Sponsored Links
Forming an off-shore company? We can assist you in forming your company in 40 countries worldwide.
Old Jan 25th, 2007, 07:59 PM   #2
Unregistered
Guest
 

Unregistered's Avatar
 
Posts: n/a

Default Re: Redeeming repossessed car

Under a repo your normally do pay for all contracts to the end date, if you are going to buy it out; if you don't act they would not likely sue you for that however.
  Reply With Quote
Old Jan 27th, 2007, 12:02 PM   #3
Unregistered
Guest
 

Unregistered's Avatar
 
Posts: n/a

Default Re: Redeeming repossessed car

I spoke with a rep at the credit co re Service/Maintenance Contract and was told that the unused portion (2yrs) would be refunded back to me after I buy out the car. I am trying to get them to take this amount off before I buy out the car.

Re: other Contract "Red Carpet", in the amount of $575, I was told that $399.00 had already been credited to the total amount I owe. They are evasive when it comes to getting a hard copy of an itemized list of how they are arriving at the dollar amount I owe. They said that is up to the dealer where I leased the car and they are giving me the run-around too. I have seen nothing that states there was any kind of credit to this effect.

Also, I put a large sum down as a deposit on the car when I signed the lease. The credit co told me that was up to the dealership to take off. My question is...does this sum get taken off before taxes or after taxes?
  Reply With Quote
Reply

Bookmark & Share

Tags
None

This thread has 2 replies and has been viewed 596 times

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

| More

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Format Your Messages
Add Forum to Google Toolbar
Forum Jump

Similar Threads

Thread Thread Starter Forum Replies Last Post
All informations used car sales, cheap car insurance, new car, … iUsedcars Off Topic Messages 1 Jan 17th, 2009 12:35 PM
Should I let my car get repossessed? spain805 Debt Collection 0 Dec 4th, 2008 02:00 PM
car loan - bank yet to register my name on car title even installment have been made. shahrul Credit Cards, Banking, Securities 1 Oct 20th, 2008 01:38 PM
Paid in full car repossessed for deficiency of other car note. Unregistered Debt Collection 1 Nov 9th, 2007 06:40 AM
Re: Repossessed Car Unregistered Debt Collection 4 Jan 28th, 2007 01:56 PM


Forming an off-shore company? We can assist you in forming your company in 40 countries worldwide.


All times are GMT -5. The time now is 09:24 AM.