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If you default on the lease (stop paying it), the dealer or creditor may be able to take the car back (seize it) or sue you for all remaining lease payments. What can specifically happen on default will be based on the terms of the lease agreement you agreed to be bound with. You can also face potential acceleration penalties. So you need to read your lease for the specific consequences.


You can review the general process here as this is regulated by the Federal Trade Commission.

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Expert:	LawNinvest
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Answered:	12/28/2007

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