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Life After Brown
What kind of car does everyone have? Year,make, and model
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<blockquote data-quote="clean hairy" data-source="post: 1772912" data-attributes="member: 55223"><p>Here is what happened.</p><p>Lets say the vehicle stickered for $30,000</p><p>The agreed Lease Return value is $15,000</p><p>Your payments on the lease total $15,000</p><p>The vehicle sold at auction for $18,000 by contract, the Dealer is only entitled to the contract amount of $15,000, you get any excess.</p><p>You got a check for the excess $3,000 it sold for.</p><p>NOW, if it had sold for $12,000, you would not be liable for any shortfall</p><p>The Dealer can only guess at best what a car will be worth in the future when the lease ends.</p><p>In this case, you got the benefit of the Dealer guessing wrong.</p><p>Disclaimer: Each lease is different, and the laws for leases vary by state.</p><p>It is best to ask in advance and understand the entire lease.</p></blockquote><p></p>
[QUOTE="clean hairy, post: 1772912, member: 55223"] Here is what happened. Lets say the vehicle stickered for $30,000 The agreed Lease Return value is $15,000 Your payments on the lease total $15,000 The vehicle sold at auction for $18,000 by contract, the Dealer is only entitled to the contract amount of $15,000, you get any excess. You got a check for the excess $3,000 it sold for. NOW, if it had sold for $12,000, you would not be liable for any shortfall The Dealer can only guess at best what a car will be worth in the future when the lease ends. In this case, you got the benefit of the Dealer guessing wrong. Disclaimer: Each lease is different, and the laws for leases vary by state. It is best to ask in advance and understand the entire lease. [/QUOTE]
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What kind of car does everyone have? Year,make, and model
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