Legal Question in Credit and Debt Law in Missouri

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.

Asked on 7/21/17, 1:07 pm

1 Answer from Attorneys

Michael R. Nack Michael R. Nack, Attorney at Law

"Stealing", not "steeling". Consult with an attorney.

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Answered on 8/01/17, 6:39 pm

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