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what exactly will happen?

I have a car that i leased 2 years ago – the lease is up in July 2008 – however, i dont want the car anymore and i am already over my miles … if i have it any longer i will be stuck with thousands in overmileage usage. The car is in my moms name – and frankly her credit is already to hell…

i would like to know if i just stop paying the payment – and they come take the car – what will happen? will they also repossess belongings to pay what is owed on the car? or will they just send the bill to collection?

can someone please help?! thankkkksss sooo much in advance!

41 Comments »

1. 

   You wake up with no car.. and then you have a reposession that follows you around on your credit..

   Comment by TheDudeAbides — June 7, 2010 @ 1:52 pm

2. 

   you will still owe the balance.

   Comment by ღLilliandღ — June 7, 2010 @ 1:52 pm

3. 

   You are extremely selfish to think of your mothers credit as useless. It is not up to you to decide if you should trash it more or not. She was nice enough to allow you to use it and apparently that’s the thanks she gets.
   What will happen is that her credit will get even worse. The car will get reposessed but they will STILL keep coming after her forever for repayment of what is owed. Do you think your mother deserves that? Grow up and do what is right. Your mother doesn’t need this.

   Comment by mosaic — June 7, 2010 @ 1:52 pm

4. 

   you’ll be walking yes indeed you’ll be walking

   Comment by Jazzy — June 7, 2010 @ 1:52 pm

5. 

   Yes they will come when your not looking and take it, they took mine at 1am 3 months ago

   Comment by MaryBee — June 7, 2010 @ 1:52 pm

6. 

   They will take the car, And ruin your Moms credit,,,
   Are you ready for that?

   Comment by 4 strings — June 7, 2010 @ 1:52 pm

7. 

   Take responsibility. Pay your bills, and call the dealership.

   Comment by David — June 7, 2010 @ 1:52 pm

8. 

   You’re really hurting your mom’s credit. After they take their car, They’ll still demand payment either through a collection agency or a lawsuit plus fines.

   Comment by Georgie — June 7, 2010 @ 1:52 pm

9. 

   They can send it to collection or file a civil suit. There is also the possibility of fraud charges being filed. It all depends on what the finance company wants to do.

   Comment by ۩ Dark Knight — June 7, 2010 @ 1:52 pm

10. 

    You will completely ruin your credit…..
    and yes, they will send you to collection for the balance…..
    whether you like the car or not, either make the payments, or turn it in early & pay the fees….

    Comment by from HJ — June 7, 2010 @ 1:52 pm

11. 

    You or your Mom will still have to pay

    Comment by Glinda W — June 7, 2010 @ 1:52 pm

12. 

    The car disappears(along with everything in it),your Mom’s credit is TOTALLY screwed,you get a bill and hopefully a royal a$$ kicking by your Mom. Have a nice day.

    Comment by Terri R — June 7, 2010 @ 1:52 pm

13. 

    Don’t mess up your mom’s credit anymore than it is. Also, your mom will end up owing thousands of dollars if you stop paying.

    Challenge yourself to take on some responsibility. If you ever want to own a home then you need to learn responsibility. Now is a good time.

    Comment by a_bush_family_member — June 7, 2010 @ 1:52 pm

14. 

    My older sister got her car repossessed. They came and took it in the morning. The bill went to collection. They kept sending her bills, to this date (2 yrs later) she gets collection bills. She had already cleaned the old car and had it ready to be taken.

    Comment by no name — June 7, 2010 @ 1:52 pm

15. 

    It will just ruin your mom’s credit even further.
    Your mom’s credit couldn’t have been too bad if she was able to lease the car in the first place.
    A good daughter wouldn’t do that to her mom.

    Comment by pg412 — June 7, 2010 @ 1:52 pm

16. 

    it takes a couple of months for them to take the car but you will have at least two grand in repo fees you are better off calling them and returning the car if you have further questions you can email me

    Comment by sydney2983 — June 7, 2010 @ 1:52 pm

17. 

    I think you should be talking to your mom about this…her credit is on the line and I think a repo stays on your credit for 5 years

    Comment by Ğāḅŕĩęŀŀę ♥ — June 7, 2010 @ 1:52 pm

18. 

    they will take the car and charge you A LOT. Have you thought of talking with them about a trade in or something like that?

    anyways they cant take your stuff

    Good Luck

    Comment by whiskey_girl_crystal — June 7, 2010 @ 1:52 pm

19. 

    You or in this case your mom will be responsible for the amount that is still owed. They can go to court to obtain permission to garnish her wages which is probably a humiliating thing. The company she works for will think she is a deadbeat who doesn’t pay her bills and that can persuade them to fire her out of fear that she is going to rack up more garnishments. Do the right thing and get it caught up now. It will make things much easier and you’ll feel like a grown up.
    I love peanut butter.

    Comment by six3x — June 7, 2010 @ 1:52 pm

20. 

    Talk to the leasing company , they may upgrade you.

    DO NOT DEFAULT!!!!!!!!!

    Comment by django716 — June 7, 2010 @ 1:52 pm

21. 

    It’ll ruin your credit. It’ll go on as a judgement/repossession. I don’t know much about leasing, but I know you can turn the car in…the mileage thing might go on your credit too, but I’m not sure…however you come out with them, if negative will affect your credit. You’d probably be better off breaking the lease than letting them come take it. Read through the terms of your lease contract or whatever they give you. Good Luck.

    Comment by Leeshdog — June 7, 2010 @ 1:52 pm

22. 

    Don’t screw up your credit! Work out a payment plan for what you owe. If you ever need a loan, this repossession will haunt you for at least 10 years! You will be living on a strictly cash basis, and that’s real tough.

    Comment by Polecat — June 7, 2010 @ 1:52 pm

23. 

    You’d be better off calling the leasing company and making payment arrangements. You made a commitment to them and your mom to pay for the car.

    Comment by amber waves of grain — June 7, 2010 @ 1:52 pm

24. 

    Pay your freakin’ bills like the rest of the world, ya scrub.

    Comment by Balls W — June 7, 2010 @ 1:52 pm

25. 

    well we own a car lot and if you get repossessed you will more than likely be sued for the remaining balance. So your better off to pay.

    Comment by cheeky — June 7, 2010 @ 1:52 pm

26. 

    Don’t do it, nothing is worth messing up someone elses credit. That will be a crappy feeling that will follow you around especially if it is your mom’s credit. I understand that it is already in the crapper, but don’t make it worse, it is already hard enough to rebuild. I suggest you go to a banker or a financial aid and talk to them about your options.

    Comment by whatchamacallit — June 7, 2010 @ 1:52 pm

27. 

    They will take the car…so take whatever is in it cause even if they set up a date to get it…chances are that they will take it before then without telling you. Thats their right.

    Now if the car is in her name…its her credit that is affected.
    So talk to her…afterall it is her credit afterall.

    The bill will go to collection..if still not paid, they will get a lien against you. Which is a pain in the neck. Youll end having to pay for it..one way or the other. Plus on top of that whatever the bank had to spend to get the car back!

    Just pay the bill. You did the damage. Pay the piper.

    Its only right! Just take responsibility for what you owe.

    Comment by aisydaisylady — June 7, 2010 @ 1:52 pm

28. 

    you owe it to your mother to pay your bills on time, she was nice enough to put it her name. Her credit is getting worse because of your irresponsibility. she will be hounded by bill collectors until she pays is that the thanks she gets for helping you out ?

    Comment by jojo — June 7, 2010 @ 1:52 pm

29. 

    Contact the dealer you leased the car from and ask them.

    And be prepared to accept responsibility for your actions. Don’t let your mom deal with it or otherwise try to get out of it, just do it. It’s the mature thing to do.

    Comment by Smilin' Jack — June 7, 2010 @ 1:52 pm

30. 

    You will mess your mom’s credit up even more. With your attitude, I am starting to see why your mom’s credit is the way it is. Since a lease contract was signed, the dealer can come back and sue for the money left owed on the lease plus extra miles and any damages.

    If you feel that way about your mom’s credit, it won’t be long before yours is just as bad (if it isn’t already).

    Comment by laceandcurls — June 7, 2010 @ 1:52 pm

31. 

    Your car will be repo and you will get a notice of what you owed as far as to bring payment up to date. If you do not wish to pay, then your car will go to auction. What ever they get for the car from the auction they will subract it from your balance. You will be responsible for the remaining balance.

    Comment by < J > — June 7, 2010 @ 1:52 pm

32. 

    That is the problem with leasing. If you don’t want to add any more miles to it just stop driving it make your damn payments, and stop whining to everyone here. You did it to yourself. Do all of the hard working, bill paying people of this world a favor and use birth control so we won’t be burden with your spawn for the rest of our lives also.

    Comment by GAH — June 7, 2010 @ 1:52 pm

33. 

    Just make sure they don’t come and take the car, just go to the dealer and talk to them and give up the car you won’t have to pay any of the repo fees, any other payments, you won’t have to make, just tell them what happens if you break the contract, at least they won’t be pissed off at you!
    Hope this Helps!

    Comment by Lucas A — June 7, 2010 @ 1:52 pm

34. 

    Yes indeed your car will be repossessed and you and your credit history will be crap until you pay off the balance.If your smart you will honor your commitment and finish the renting of the car and pay for the extra mileage.You have a long life in front of you to go through life with bad credit,it takes many years to get it back.

    Comment by sasyone — June 7, 2010 @ 1:52 pm

35. 

    FInd out just how much the cost will be under varying circumstances. Use the least expensive method. Get a job to pay for it. Chalk it up to bad judgement, and a lesson learned!

    Comment by WaymoreParsecs — June 7, 2010 @ 1:52 pm

36. 

    Just assuming that it is ok to further damage your mother’s credit is a sad thing (she obviously had good enough credit for you to get the car in the first place). It’s also sad that you believe it is ok to simply walk away from a debt that you legally owe. You need to grow up and take some responsibility for your actions.
    They will file legal action against you (your mum) for the balance due, legal costs, court costs, and collection costs. They may be able get a judgement against you (your mum) and, in some states, be able to garnish your /her wages or force the sale of certain properties.
    Suck it up, put yourself on a mileage budget and call the lease company to renegotiate your lease terms for a higher end of lease mileage allowance. It will cost you a bit more each month but will teach you a lesson and not hurt your mother.

    Comment by Mark C — June 7, 2010 @ 1:52 pm

37. 

    Just clean out your car now, and turn it in. If you don’t, they will take it in the night and anything in it will be theirs. They will then sell it for below what you could anyways, and bill you for the money they still need. The bill will then go to collections, and your mom’s credit will be ruined for a long time. IF your name is ANYWHERE on the loan, your credit will be ruined too. Do you want a new car anytime soon? Do you ever intend to use your mom’s credit to help get another car, because if yes to either, you are about to ruin it.
    Have you thought about selling it for what you owe?

    Comment by Nancy — June 7, 2010 @ 1:52 pm

38. 

    If they reposess the car before the contract is up, they can still charge you, or technically, your mom for the remainder of what is owed on the contract, plus any fees that are incurred in the process of getting it back. They will also charge you for the number of miles you have exceeded the lease agreement by, on top of it. They cannot repossess anything you own (or your Mom), but they can go to civil court and put a garnishment against any future wages or property you or your mother own, and they will get paid at the time of sale before you get any of it. The absolute least they will do is send it to collections, but the collection company can also pursue any of the above avenues, if the dealer or lease holding company chooses not to do it themselves.

    Comment by horserider709 — June 7, 2010 @ 1:52 pm

39. 

    No they will not take other possessions but it will screw up you and your moms credit. Don’t be an irresponsible loser. Pay what you owe, if you don’t you will become a flake and never get credit and you will become a welfare case. If you don’t pay what you owe, its the same as stealing. Do the right thing.

    Comment by CLAUDE D — June 7, 2010 @ 1:52 pm

40. 

    My brother missed the payments on his jeep for two months. They took the car along with everything he added to it…and made him pay off the rest of the note. So basically, he lost the car but still had to pay for it. And once it reaches that point, they won’t just let you make your payments and take the car back…if you want the car back, they expect you to pay the total balance within a week or so.

    And yes, a repossession follows you on your record. And that would be a cruel thing to do to your mothers credit. It may be bad now, but it can get much worse. It couldn’t have been that bad if it was in her name…or they wouldn’ t have given her the car. In the future, she may not be able to get anything with her credit.

    It would be better to pay the overmileage instead of causing a nightmare…and if your mom doesn’t pay off the rest of the lease after it goes to collections, they will garnish her wages. Do you want that on your conscience? There is absolutely no benefit to this method and I would wipe it from your mind.

    Comment by Ashley — June 7, 2010 @ 1:52 pm

41. 

    If you stop paying on a car, and the lender is not getting any
    money out of you. They can sell your contract to somebody
    who will pay them sixty cents on the dollar. Then it’s out of
    their hands. and you’re hit with threatning notices and endless
    phone calls, even if they do reposses the car. So talk with the
    lender to try and work something out. <}:-})

    Comment by jwjeepers62 — June 7, 2010 @ 1:52 pm

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