Legal Question in Consumer Law in California

NEVER LISTEN TO A REPO GUY. He only wants to repossess the vehicle. If you cannot work out something with the lessor, chances are you are not going to work out anything. Ask the lessor how much the lessor wants for you to buy the vehicle. Then, if you qualify to purchase the car, go to your bank or credit union and apply for a car loan and purchase the car. If you are $15,000 behind on your lease, chances are you are not going to qualify for a loan with the bank.

If you give up the lease, you will still owe the lessor the money you owe them already and through the end of the lease term, less a certain minor amount that the lessor will earn by selling the vehicle at bargain basement rates at a wholesale auto auction.

The lessor is at an extreme advantage here. You owe them until the end of the lease term, and if you have gone over your allotted mileage, you will owe them for that too. They can sell the car at a reduced rate at the auto auction, and the meager balance that they sell it for at the auto auction will be applied to any moneys that you owe them. Meanwhile, if you are late on your lease payments, chances are your credit is already going downhill, but it will definitely be rock bottom when they obtain a judgment against you for the deficiency on the lease. Before you do one more thing, I urge you to contact John Hanson at 858-451-0291.