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I should have asked this question earlier. In January, 2016,

my husband (Steve) and I...
I should have asked this question earlier. In January, 2016, my husband (Steve) and I (Sandy) leased the fourth car from KIA of Myrtle Beach, SC. This lease was a four-year lease with 10K miles each year. June 2, 2017, Steve passed. While losing $4,500/monthly income, I struggled to keep the monthly payments current through September, 2017, while I was out-of-state. Oct. 20, 2017, I surrendered the car. The car went off to auction selling for $14K+.I certainly botched the situation since I didn't pay attention to two notices from KIA in which they I owed about $8K on the lease. In a delayed fashion, I did speak to them; they insisted that that I owed the whole amount. I tried to reason with them that the higher income came from Steve. I asked for a 50% reduction, but that wasn't in the cards; however, they first gave me a 20% reduction and later an additional 10% reduction (total 30%).I had to pay the 70% price because KIA dunged my credit rating. That had to come out of a limited home equity loan. Is there any thing I can do at this point to recoup some of the difference between the 50% and 70%?
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Answered in 16 minutes by:
3/25/2018
Law Educator, Esq.
Category: Legal
Satisfied Customers: 123,360
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Unfortunately, if there was a lease contract, there was no legal basis for KIA to even reduce your amount due the 30% much less more. Legally, if they sold the car at or close to book value in auction, they have the right to recover the amount on the lease they did not get in the auction. So. legally, if the amount was due according to lease terms, legally they can enforce those terms and did not have to give you the reduction they did give you, so there is no legal basis to pursue them to recover the money I am sorry to say.

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Law Educator, Esq.
Category: Legal
Satisfied Customers: 123,360
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified
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