Legal Question in Business Law in California
Contractual Agreement
I leased an car (Acura 2.5 TL) for 36 months, I have had it 14 month my contract states that if I return the car after 12 months and decide not to purchase it I will charged $400 dollars. When I attempted to return the car I was told that in addition to the fee charged it would be reported to a credit agency as a voluntary repossession. My questions is this legal and is there any recourse that I can take or agency that I can report this to?
1 Answer from Attorneys
RE: Car Lease/Early Return
I suggest check the Automobile Sales Finance Act, Civil Code ��2981 et seq. and the Vehicle Leasing Act, Civil Code ��2985.7 et seq.
In addition, from your description, it appears your lease gives you the right or early return.I do not think they would be justified in reportingyou for a voluntary repossession when you are exercising your rights under the lease.
They may nevertheless report you. I believe you then have the right to require the credit reporting agency investigate the matter.
I would research and confirm these pointsand read all that fine print in your lease,(that even we attorneys never read before we sign), before returning the car.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
