We are in an auto lease that we can no longer afford. We owe too much to sell or transfer. Will the lender do anything more that put the repo on our credit?
by 
Anonymous
ANSWERS: 2
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Call the leaser and tell them you're not going to be able to make those payments. They would probably rather work with you and repo the vehicle. If people would just talk to their creditors, they could avoid a lot of trouble.
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Not only can they put a repo on your credit in addition to notification of late payments, they can also legally sue you for the difference after they sell your vehicle. You are probably upside down on your loan, but it will be even worse if it is repossessed. They'll sell your car below fair market value (typically to a dealership) and you'll owe the difference for what's left on the loan. Avoid this if at all possible. If you default on a secured debt, it'll look horrible the next time you try to get a loan or line of credit (in addition to the havoc on your credit score).
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