POST-REPO CHARGES

[DIVA1203]

MY HUSBAND'S LEASED VEHICLE WAS REPOED WITH THREE MONTHS LEFT ON HIS LEASE. HE WAS 60 DAYS BEHIND. A LAWYER IS HANDLING THE CASE FOR THE DEALER. WE'VE BEEN PAYING THEM MONTHLY FOR ALMOST A YEAR FOR LAWYERS FEES & THE COST OF THE VEHICLE. ACCORDING TO TENNESSEE LAW, SHOULD WE BE REQUIRED TO PAY FOR THE COST OF THE VEHICLE SINCE HE WAS LEASING?

 

[I AM ALWAYS LIABLE]

My response:

Please, take your Cap Lock off and re-type your post. Thank you.

IAAL

------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 

[DIVA1203]

My husband's leased vehicle was repoed with three months left on his lease. He was 60 days behind. A lawyer is handling the case for the dealer. We've been paying them monthly for almost a year for lawyer’s fees & the cost of the vehicle. According to Tennessee law, should we be required to pay for the cost of the vehicle since he was leasing?

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by DIVA1203:
My husband's leased vehicle was repoed with three months left on his lease. He was 60 days behind. A lawyer is handling the case for the dealer. We've been paying them monthly for almost a year for lawyer’s fees & the cost of the vehicle. According to Tennessee law, should we be required to pay for the cost of the vehicle since he was leasing? <HR></BLOCKQUOTE>

My response:

I'm sorry, I don't understand your question.

A lease is for a determinate period of time, e.g., 3 or so years, and then you have the option of turning the car in, or buying it based upon the agreed residual value of the car.

If you never agreed to buy the car, what is the attorney saying to you?

IAAL



------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 

[DIVA1203]

The dealer auction the vehicle & told my husband that he is responsible for paying the difference between the vehicle's worth & the amount it sold for

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by DIVA1203:
The dealer auction the vehicle & told my husband that he is responsible for paying the difference between the vehicle's worth & the amount it sold for<HR></BLOCKQUOTE>


My response:

It would certainly be a good idea to have the lease contract reviewed by an attorney. I could understand what they were doing to you IF this was a "purchase contract", but it's not.

I believe they would only be entitled to all of the lease payments, until expiration of the lease. Plus, they are entitled to attorney's fees and court costs. Also, they are entitled to towing and storage charges.

But, the purchase price, minus what they received by way of auction? That doesn't make sense.

See an attorney for a review. It could be well worth your efforts to do so.

IAAL


------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."