Last July we turned in our leased vehicle to a dealership to buy a new one. We owed 3k on the remainder on the lease with BofA. They considered this a repo and it is on all 3 CRA's. Where do I begin in getting this resolved? Should I contact BofA and pay it? They sent me an intent to sell letter (registered) a few months ago. What can I do? Thanks in advance
Did you trade it in or just leave it there prior to lease end? You can trade it in on another car and the dealership you dealt with should have paid it off. If you just left it at the dealership then you may well be responsible for any difference in residual and what they actually sold it for at auction. Pull all of your paper work on the old and new car and read it very carefully. Michelle
Were you turning it in early or was your lease up? Did you make any arrangements w/lease co? If you just took it to the original dealer and left it with remaining lease time then you are liable for any difference. Was this included maybe in a bankruptcy? If so, then you would be covered and could send write back to that affect. Michelle
