Car repo question

Does he have gap insurance on it? If he does, he can go total it and it's covered........


Just sayin..

 

LOL.. sounds like we need Car Insurance Reform now.. where is that bill?

 

I have had some people PM me about taking over payment. I will find out the details tonight and post them. But I beleive teh payments are $1400 a month.

 

That's a mortgage payment and you can't really live in it. WOW

 

Anyone leasing a car for $1400 a month is an idiot. There, I said it.

 

Trust me I know. My first 2 houses mortgage payments weren't that much.

(Not together, seperately)

 

Jesus...That's a lease? I know someone who is making similar payments but it's a standard loan and the car is much more awesome.

 

HOLY SHIT!! My brand new house and truck combined wasn't that much per month..

He'd have better luck selling it outright.

 

Totally worth it for that generic Yuppie-mobile. No doubt. If it had flames with translucent skulls in them, I'd sign for it in a heartbeat.

 

WOW!!! $1400 a month for a lease. Forget the car, this guy needs someone to mushroom stamp some sense into him.

 

Well here is the info. The car is a 2006 650 i convertible with 27,873 miles. Has one more year on the lease she has leased it since new. The payments are $1398 a month. Its is leased and drivin by a 45 year old woman. She just bought a Mercedes benz 550.

 

I'm not the vendictive type... but when the come for the Beemer, they should take her other car as well. Just on principle.

 

The story gets more amazing by the hour.

 

She should really call the lender and work something out, but as for what would happen.
If the car is not lowjacked, the repo company will come to the address the signal is outputting.. or the address that was listed on the paperwork for the car, also any co-signers address as well. Next is the place of business for either the debtor or co-signer. Also the repo company will be calling you trying to trick you into getting either your current address/location or the cars. Really its better just to call the lender and tell them the situation, from my experience (2 years of repo work) they would rather work something out, then have to fuck with bringin the car back in.. I seen them accept half payments,2month extra time..

 

Yeah I knew you guys would get a laugh out of it. I just shake my head everytime I hear the story.

 

For the record.. I didnt know it was $1400 a month! Got damn!!!

You can find used '07 650's w/40k miles on it ALL DAY on autotrader.com for $40k and is still under BMW factory warranty with maintenance until Fall 2011.

$40k financed at 6% APR for 60 months is only about $750 a month. I know he probably leased the car new.. but damn that was ridiculously priced lease to begin with. Not to mention the 6 series has had the same bodystyle since its 2004 introduction. Nobody can tell the difference between a 2006 and a 2010.

 

i say she should just stop paying and try to hide the car - sounds like she needs to learn a lesson and a good lawsuit and judgment agaist her may help.

 

Based on the story, and playing internet sluth... her credit probably sucks ass, and that is why her payments were so high to begin with. Doesn't seem like her score will be improving anytime soon either.

 

Credit is good. As she just got financed on the Mercedes. I beleive the payment was so high because she was upside down when she took the lease. Also I beleive the car was 100K brand new. I am taking a guess on the price of a new BMW 650i loaded conv

 

The 650i & CL550 are my favourite coupes.. atleast she has good taste! lol I love the big boy German coupes.. I dont fit in any of the smaller Japanese, American, Italian coupes.