Can creditors pick up a leased car

[DYLAN150]

Can a creditor ( approved judgement) pick up a leased car?

In fact how much equity would have in be in the car before the creditors picks it up. (state exemption plus towing fee's, auction fee's etc)

[catleg]

I don't see how they could. The debtor is not the registered owner.

[DebtHater]

Doesn't matter who the RO is. It's a matter of who's name is on the flease.

There doesn't have to be any equity in the car to get it repo'd. If the contract is breached (or in this case the terms of the flease), it's getting picked up.

[catleg]

I think what he's saying is, picked up by another party. I think it goes without saying that a lessor can come get it anytime for breach of contract. I'm not really sure when a typical lease has much positive equity anyway.

[DebtHater]

I'm not really sure when a typical lease has much positive equity anyway.

That's an easy one...... NEVER!

[DYLAN150]

Maybe I wasn't very clear but I meant to say was when a credit card company get's a judgement against you can they pick up your leased car. Or if you are buying your car on a contract how much equity would you have to have in it before they pick it up.

[OhioFiler]

Maybe I wasn't very clear but I meant to say was when a credit card company get's a judgement against you can they pick up your leased car. Or if you are buying your car on a contract how much equity would you have to have in it before they pick it up.

Which situation applies to you?


No credit card collector is going to repo your car. The only people who will ever repo your car are the lender or leasing company for non-payment. Even if you own your car outright, free and clear, no one can simply repo your car for non-payment of another debt.

[DYLAN150]

What if they have a judgement against you?

[DebtHater]

Maybe I wasn't very clear but I meant to say was when a credit card company get's a judgement against you can they pick up your leased car. Or if you are buying your car on a contract how much equity would you have to have in it before they pick it up.

I'm sorry I misunderstood your original post. If you get sued by the CC and they win they are not going to take a car that's not yours. If fact, they are not going to take your car at all. They might be able to put a lien on the title but they won't repo it. Before any of this would happen (if it would happen) they would take easier ways of collecting what is owed like garnishing your wages.

[OhioFiler]

What if they have a judgement against you?

Worst case is they would petition the court to allow seizure of your assets for auction. It's not likely to happen.

[forgotten]

If you are leasing a car you don't own it, the financing company owns it, you are just renting it from them.

The only one who would repo a leased car is the leaseholder if you stoped making the lease payments. Well... I haven't made a lease payment on my car in over a year and still have it, but that's a different story.