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The award and monies for a lessee consumer and lessor do not cover the lease balance. What do we do?

April 26, 2017award Balance consumer cover lease lessee lessor monies

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The award and monies for a lessee consumer and lessor do not cover the lease balance. What do we do?

1 Answer

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The lease formula provides the lessor with a 10% addition of the lessor’s purchase price of the vehicle to accommodate for no termination fee. The lessee is not responsible for any outstanding balance. The formula is binding on the lessor assignee.