Topic: Would it be OK to race a car leased below $500, then have it repo'd?

Suppose you leased a car with the initial payment below $500, then raced it and gave it up for repossession before 2nd payment. Would the Lemons judges let it fly?

Re: Would it be OK to race a car leased below $500, then have it repo'd?

The Lemons rules are incredibly arbitrary. Gaming the system never works, because the judges assign penalties by feeling anyway.

If you show up with a fancy cheaty car, it doesn't matter what your paperwork says. You'll get to race, with penalty laps.

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Re: Would it be OK to race a car leased below $500, then have it repo'd?

MrAnnoyingDude wrote:

Suppose you leased a car with the initial payment below $500,
put a cage,kill switch and fire bottle in it, then raced it and gave it up for repossession thereby fucking your credit score for a chance to win nickles, before 2nd payment. Would the Lemons judges let it fly?

FTFY

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(Still a Class B driver in a Class A car)

Re: Would it be OK to race a car leased below $500, then have it repo'd?

The question would be why? Why would you want to install a cage and a bunch of other safety gear into a car that you're just going to abandon to repossession?

Could you? Why not, it's your own money and consequences. But the repercussions to you I think would far outweigh any novelty.  You aren't going to win anyway.

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Re: Would it be OK to race a car leased below $500, then have it repo'd?

Do it.  I am sure you would make the wrap up video.

Re: Would it be OK to race a car leased below $500, then have it repo'd?

BigBird wrote:
MrAnnoyingDude wrote:

...put a cage,kill switch and fire bottle in it...

FTFY

Don't forget "...trash the interior to reach, disable, and remove all the airbags..." so be sure to choose your vehicle wisely.

I'm entirely in favor of this being an excellent idea for someone who is not me.

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Re: Would it be OK to race a car leased below $500, then have it repo'd?

Double down on all the terrible decisions that got you there and strip it down to a shell after the race, then report it stolen!!!

SMRT!

Re: Would it be OK to race a car leased below $500, then have it repo'd?

mharrell wrote:
BigBird wrote:
MrAnnoyingDude wrote:

...put a cage,kill switch and fire bottle in it...

FTFY

Don't forget "...trash the interior to reach, disable, and remove all the airbags..." so be sure to choose your vehicle wisely.

I'm entirely in favor of this being an excellent idea for someone who is not me.

So am I.

Re: Would it be OK to race a car leased below $500, then have it repo'd?

to offer a more rules oriented answer however, just because your lease payment is $500 does not make it a $500 car. From the rules

4.1.1: Lame-Ass Rationalizations: Cars that “should be” worth $500 don’t count; cars that “were worth $500” before you spent another $2000 to fix them don’t count; cars you’ve owned for 20 years and spent more than $500 on during that time don’t count; “it would have been worth $500 if it didn’t already have a cage” doesn’t count. Five hundred dollars means five hundred frickin’ dollars.


So, if you've just leased a brand new mustang that you're totally going to dominate with, that is not a $500 car, and you will be assessed penalty laps accordingly. Likely a bunch with the caveat that you were never going to win anyway so enjoy being in the negatives the whole race.

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Re: Would it be OK to race a car leased below $500, then have it repo'd?

TheEngineer wrote:

to offer a more rules oriented answer however, just because your lease payment is $500 does not make it a $500 car. From the rules

4.1.1: Lame-Ass Rationalizations: Cars that “should be” worth $500 don’t count; cars that “were worth $500” before you spent another $2000 to fix them don’t count; cars you’ve owned for 20 years and spent more than $500 on during that time don’t count; “it would have been worth $500 if it didn’t already have a cage” doesn’t count. Five hundred dollars means five hundred frickin’ dollars.


So, if you've just leased a brand new mustang that you're totally going to dominate with, that is not a $500 car, and you will be assessed penalty laps accordingly. Likely a bunch with the caveat that you were never going to win anyway so enjoy being in the negatives the whole race.

AFAIK a car you lease for a month for $500 is a car you literally only spend $500 on.

It is priced at $500 (for that one month), doesn't need fixing and hadn't been repaired yet.

Re: Would it be OK to race a car leased below $500, then have it repo'd?

MrAnnoyingDude wrote:
TheEngineer wrote:

to offer a more rules oriented answer however, just because your lease payment is $500 does not make it a $500 car. From the rules

4.1.1: Lame-Ass Rationalizations: Cars that “should be” worth $500 don’t count; cars that “were worth $500” before you spent another $2000 to fix them don’t count; cars you’ve owned for 20 years and spent more than $500 on during that time don’t count; “it would have been worth $500 if it didn’t already have a cage” doesn’t count. Five hundred dollars means five hundred frickin’ dollars.


So, if you've just leased a brand new mustang that you're totally going to dominate with, that is not a $500 car, and you will be assessed penalty laps accordingly. Likely a bunch with the caveat that you were never going to win anyway so enjoy being in the negatives the whole race.

AFAIK a car you lease for a month for $500 is a car you literally only spend $500 on.

It is priced at $500 (for that one month), doesn't need fixing and hadn't been repaired yet.

That falls under lame ass rationalization. The car is blatantly worth more than $500, even if you're spun a tale about it only costing $500. Depends on the mood of the judges if they just shower you in laps because your logic is bad, or let you get away with none because they know that a brand new car will do terribly.

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12

Re: Would it be OK to race a car leased below $500, then have it repo'd?

I'm guessing at minimuim the price is the total sum of all your payments, although it is possible they will give it the estimated value of the car after you turn it in after the lease as the full price of the car, or they can take what the sticker price would have been if you bought it, or whichever is greater, although I think the system is only able to apply 999 laps so anything over 1000 is just for show.

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Re: Would it be OK to race a car leased below $500, then have it repo'd?

TheEngineer wrote:
MrAnnoyingDude wrote:
TheEngineer wrote:

to offer a more rules oriented answer however, just because your lease payment is $500 does not make it a $500 car. From the rules




So, if you've just leased a brand new mustang that you're totally going to dominate with, that is not a $500 car, and you will be assessed penalty laps accordingly. Likely a bunch with the caveat that you were never going to win anyway so enjoy being in the negatives the whole race.

AFAIK a car you lease for a month for $500 is a car you literally only spend $500 on.

It is priced at $500 (for that one month), doesn't need fixing and hadn't been repaired yet.

That falls under lame ass rationalization.


Exactly.  That $500 figure is not what you PAID, it's what the car is deemed to be WORTH...by the judges.  If someone gave you a new C7 for FREE, it's still WORTH more than $500.


mharrell wrote:

I'm entirely in favor of this being an excellent idea for someone who is not me.

Most definitely!

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Re: Would it be OK to race a car leased below $500, then have it repo'd?

Why do it to a lease car?  Seems like a rental would come with (relatively) fewer consequences than a repo.  I wonder if their insurance would cover de-caging it?  I would think the Lemons Supreme Court would look favorably upon anyone who did this come award time but doubt they would encourage it.  Again, an excellent idea for someone who is not me.

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15 (edited by fleming95 2019-03-28 06:20 PM)

Re: Would it be OK to race a car leased below $500, then have it repo'd?

Well, since we're going down this road why not just keep your eye out for cars that looks suspiciously stationary (that Volvo 850 I saw a few years back in the mini-mall parking lot, the Mazda Tribute with the nuisance vehicle sticker on it for the 3rd time which just got the back window broke out), 'borrow' it for a weekend, then put it back where you found it?

You'd even have the full $500 to spend on cheaty bits for the weekend -

Re: Would it be OK to race a car leased below $500, then have it repo'd?

I may or may not have considered picking up orange to my  tagged vehicles on the highway when returning the tow dolly to my team mate.

Re: Would it be OK to race a car leased below $500, then have it repo'd?

Take whatever car you can get for a lease payment less than $500 and cage it, do all the safety stuff, and it still has NO chance to win a Lemons race.   Even more so, I think the judges would LOVE that you would do this, and fully endorse your assault on your credit.

LemonAid - Changing kids lives one lap at a time.

Re: Would it be OK to race a car leased below $500, then have it repo'd?

mharrell wrote:
BigBird wrote:
MrAnnoyingDude wrote:

...put a cage,kill switch and fire bottle in it...

FTFY

Don't forget "...trash the interior to reach, disable, and remove all the airbags..." so be sure to choose your vehicle wisely.

I'm entirely in favor of this being an excellent idea for someone who is not me.

rb92673 wrote:

Do it.  I am sure you would make the wrap up video.

cheseroo wrote:

Why do it to a lease car?  Seems like a rental would come with (relatively) fewer consequences than a repo.  I wonder if their insurance would cover de-caging it?  I would think the Lemons Supreme Court would look favorably upon anyone who did this come award time but doubt they would encourage it.  Again, an excellent idea for someone who is not me.

Gentlemen, it seems we have our team...

Re: Would it be OK to race a car leased below $500, then have it repo'd?

There's an abandoned Cayenne that's been sitting on four flat tires poorly parked on the wrong side of MacArthur Boulevard in my neighborhood for over a month.  Looks like the driver hit the median while swooping into oncoming traffic.  As one does.

Somebody come get it.  You probably won't get shot.

Re: Would it be OK to race a car leased below $500, then have it repo'd?

MrAnnoyingDude wrote:

Suppose you leased a car with the initial payment below $500, then raced it and gave it up for repossession before 2nd payment. Would the Lemons judges let it fly?

Send It!!!

Oh, and hire an attorney up front because you will be sued for sure by someone........ smile

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