Are there different “repo laws” pertaining to leased vehicles as opposed to purchased or financed vehicles?

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Are there different “repo laws” pertaining to leased vehicles as opposed to purchased or financed vehicles?

I actually have a question about repo’s of “leased vehicles” in the state of Mass. I was told by the lease company,that they did not have to send a notice of “intent to cure” to repo my vehicle, due to it being a lease. I have had it happen twice, both times I paid the amt owed, but its been a tough economy, and money is tight. We only have one car in our household, an both my wife an I work. Both times without notice they took my vehicle and treated me like common garbage. Before I proceed with an official complaint, I wanted to know my rights.

Asked on January 4, 2012 under Bankruptcy Law, Massachusetts

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Different states have different statutes concerning the repossession requirements for automobiles. The best way to assist in answering your question is for you to carefully read your written loan as to the terms and conditions that you are obligated under to the lender and the lender to you. The loan agreement will typically spell out what required notices and duties are owed between the borrower and the lender absent conflicting state law.

In your situation, my experience is that pretty much all statutes require written notice to the borrower of a vehicle (be it a lease or a purchase) of a default under the terms of the lease or loan with a set time period to cure before any actual repossession happens.


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