What happens to my lease if Chrysler goes bankrupt?

  • Thread starter Thread starter Enterra
  • Start date Start date
Nothing. Car companies either contract out to a financial institution that actually holds the lease or has a separate company (a kind of subsidiary) that handles them. If the company goes bankrupt, nothing will happen to your lease because it's not held with the company itself. If they happened to use their financing arm to help in their bankruptcy, then the most that would happen would be that they sell the asset (your lease and the promise of future payments) to another financial institution. The other poster is correct- you would still be liable for the original terms and conditions, even if this happened.

Good luck. :0)
 
Your lease payments will continue.

You most likely leased the vehicle from Chrysler Financial. In a BK restructuring, the debts and obligations of Chrysler will be reorganized, but it's assets, such as buildings and leases can either be sold or taken over by another company.

It's possible that another company, such as Chase, might buy the leases from Chrysler.

Either way, your lease will continue and you can enjoy your car!
 
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