I leased a Tesla in Sept 2016. The purchase price of the car was $93,000. The residual value is about $74,000. I put about $19,500 down. My payment is $342 over month. I have had some financial issues and have only made 4 payments. They want to repossess the car. Seems to me, that would be steeling. I leased it for 24 months. The total payment (down payment plus 24 monthly payments) is about $27,700. The total I have paid is $19,500 plus the 4 payments of $342. That's $20,868 or about 75% of the total cost of ther lease. By time, I have used 38% (9 out of 24 months). Is there anything I can do? If they take it, I will lose all that money. Seems like steeling to me.
1 Answer from Attorneys
"Stealing", not "steeling". Consult with an attorney.