I have been getting bombarded with lease offers for electric vehicles. (Likely because I been reading and watching everything I can on the Rivians here recently).
Including Fisker which is pretty much circling the drain.
Got me wondering what happens if you lease one and they go belly up? They take the car back, they offer to sell it to you cheap, what?

Certainly not going to do such a thing. However, I really like the Rivian R1S and would not mind to have one if I could afford a novelty vehicle.

I do hope Rivian survives and probably have the best chance with being partnered with Amazon for their delivery trucks. I think they have quite a vehicle and especially with the new revision they are really doing some good things.
Got rid of 10 control modules and over 1.5 miles of wiring saving 45 pounds. Far more efficient motors, and likely the biggest move is making these batteries far more modular to make them easier to repair and replace by module instead of the entire battery.
Maybe one day it will be truly feasible.

If they file for bankruptcy, the receiver has an interest.

Yeah, don’t buy (lease) it thinking that you’re going to get out of the payments… Only buy it if you fully intend to fulfill your side of the agreement.

I won’t be buying or leasing one.
Was just curious what would happen.

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Seems like the car manufactures have separate financial companies that handle the financing.

I expect those companies would continue to collect on those loans and leases.

posted on www.FiskerFinance.com
"...Auto finance accounts are owned by Chase and are subject to credit approval, terms and conditions...."
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I wondered something similar as I drove by the rather poor looking Vinfast dealer in Bakersfield CA yesterday

I'd forgotten about them, until I saw that dealer & saw one in a parking lot earlier this week

I don't know all the legalities, but the lease obligations will be assets held by the entity even if it goes bankrupt. Someone will buy or end up owning the remnants and they will want to generate any income possible out of those leases. The bigger issue for owners/leaseholders will be getting warranty and tech support in the aftermath.

It is going to be interesting for Amazon going to EV for delivery use in this area. Some of the drivers have said they are on the road 10-12 hrs a day.
The batteries probably won't last that long.

The lease agreement is dispositive. It will say what entity you are leasing from (it's not always the corporation making the car) and whether the lessor can transfer the lease.

Your obligation (your future payments) is to them a financial asset. Bankrupt companies (if they reorganize) will still collect payments due them, or if they liquidate your lease would be used with other assets of the bankrupted company to satisfy the creditors that made them go bankrupt.

Bottom line is, no, you wouldn't get out of your lease payments if the lessor went bankrupt - the only thing that might happen is you might get told to send your lease payments to a different company.

quote:

Originally posted by gjgalligan:
It is going to be interesting for Amazon going to EV for delivery use in this area. Some of the drivers have said they are on the road 10-12 hrs a day.
The batteries probably won't last that long.

That's been done here, for many of the drivers/routes, vehicles are interesting looking , quiet, you can tell it's an EV by it's style.

Not quite the same but somewhat similar. My neighbor had solar panels installed on his house last year. Before he made the paid the final installment the company went bankrupt. As of now he has an extra $4500 in his pocket. Ill have to follow up to see if he ever gets contacted to pay up.