MORE CAR TROUBLE: Bow Wow Chased Down For Fees After His Lambo Was REPOSSESSED!

Oct 12 | by Natasha

Bow Wow is already being chased down for the back-payments he owes on his leased '05 Ferrari. Now, Mr. 106 & Park owes a bank some serious cash after they had to repossess his Lambo. Deets inside...

And the money troubles continue for Bow Weezy. Reports state that he fell behind on his $300,165 business loan he took out for his Lamborghini Murcielago. He managed to pay up $161K, but when he stopped paying on it, SunTrust Bank repossessed the whip. Now, they want an extra $25K for the fees they took on in taking back the car & reselling it.

According to TMZ:

It costs roughly $25,000 to repossess and sell a rapper's Lamborghini -- at least according to a Georgia bank, which is now suing Bow Wow for money it spent flipping his ride.

SunTrust Bank filed the lawsuit against Bow Wow -- real name Shad Moss -- claiming he took out a $300,165 business loan, agreeing to 84 monthly payments of $4,730.

According to bank records filed with the lawsuit, Bow Wow fell behind last year. The docs show the bank repossessed the rapper's Lamborghini Murcielago -- and managed to get $161,000.

You'd think that would be the end of it -- but the bank tacked on more than $25,000 for "repossession expenses."

He still owes about $21K. Oh Bow...

Categories:

Broke Asses

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Comments

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Kmsl bum ass I never had

Kmsl bum ass I never had anything..there is no way in hell I would ever spend my money like that I know where i come from and wouldnt ever want to go back..lol some black ppl are foolish wit cash..I know Im black..lol

by Ne Ne OutWestsh...
2:34 pm - Oct 14, '12

well maybe he own several

well maybe he own several cars and doesnt care if they reposess this one.

by Gabbie
5:18 am - Oct 13, '12

First damn thing they do is

First damn thing they do is go buy a stupid car and jewelery ...that's why they stay losing, bank roll first and be sure the monies keep coming in before you go splurging.

by Lola
3:40 pm - Oct 12, '12

I WOULD feel sorry for Bow,

I WOULD feel sorry for Bow, if he wasn't such a NARCISSISTIC MEGALOMANIC SOCIOPATH! It's called KARMA!

by tori
2:29 pm - Oct 12, '12

i have a serious problem with

i have a serious problem with this whole ordeal about Bow Wow..now imma put the fact the imma fan to the side..and just speak on certain things...OKAY..theres a story about how hes behind in child support...yet u got his baby momma and daughter at his new penthouse in new york having family time, "they way it should be" in his words...does that sound like a man whos behind11k in child support, what mother wud spend time wit a baby daddy if there begind in child support...2ndly...do we really thing that bow wow owes money for a car...with all the hit movies and tourin hes been doin..sold out world wide...i just feel like if the information is from bow wow or his baby mother..im not goin to believe it..if it he say she say cuz someone wants to make money off of making someones life miserable..smh why believe it...but then again...their lives are our entertainment..i just feel like with this article what bow wow says in his facebook shud be posted :Hahaha these stories are hilarious hahaha .... its gets funnier by the day. Haha what else is next? Haha I musta pissed somebody off really bad. I musta slept with someones wife at T__Z on accident hahaha and didnt know. Haha me and the homies dying laughing. Try again man....thats coming from BOWWOW himself...lets start using wat THEY SAY instead of HE SAY/SHE SAY

by MeKeyUNothing28
1:09 pm - Oct 12, '12

Girl boo, all this ish is

Girl boo, all this ish is public record. They can't just make up a lawsuit. That shit is real. They just can't take you car and sell it if you're paying for it. Bow Wow is just frontin', and that's the reason he got in this mess in the first place.

by DesignDiva
1:16 pm - Oct 12, '12

I'm sorry, but this shit is

I'm sorry, but this shit is so typical. All of these rappers need to enroll in some damn finance classes for real. And they always wanna go blaming their boyz and their management for mis-handling funds. FOOLS, STOP HIRING NEGROES FROM ROUND THE WAY WHO CAN'T COUNT FOR DAMN TO HANDLE YOUR PAPER!!! And stop leasing all these cars and getting mortgages on homes! Newsflash: If you actually BUY shit, it can't be re-possessed! I'm tired of this mess, talking 'bout how hard you ballin'. Negro, Bill Gates and Rupert Murdoch are ballin! You don't see the repo man in front of their cribs, do you?

by DesignDiva
1:10 pm - Oct 12, '12

well, he got a new job, he

well, he got a new job, he should be able to pay it back

by Tara Lipscomb
12:35 pm - Oct 12, '12

What a mess!! and why does a

What a mess!! and why does a person needs so many expensive cars you really cannot afford anyway??? some of htese rappers/ r&b stars kill me trying ot be ballin and such and lease cars etc all along and then when hteir CD's are no longer sellin and it is time to pay the piper, they are in big trouble.

by sweetpea1989
12:00 pm - Oct 12, '12

these ppl.... if your money

these ppl.... if your money was SOOOOOO long, why not just buy cars straight cash out? just hand over a cashiers check? if it's about establishing credit, why not put a down payment on a regular car, be it a beamer, benz, toyota, mazda, honda, and make the monthly payments on that? hell, put a down payments on a nice sized home and make the monthly payments on that to build your credit. I swear these celebs get so swept up in impressing others, that they cant/wont do for themselves and their children. I hope he gets it together soon and not get caught in the hype of being on television everyday and fall back into some other BS.