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Akon

Repo Man Gunning for Ferrari

In Upside Down Car Deal [UPDATE!]

8/13/2014 10:40 AM PDT BY TMZ STAFF
EXCLUSIVE

0813-akon-new-ride-tmz-instagram-01update_graphic_red_barA rep for Akon tells TMZ ... Akon loaned the Ferrari to someone who was supposed to make the payment, but did not. The says once Akon learned of the missed payments, he immediately made it right and the car remains in his possession. 
update-grey-gray-bar
Akon
not only has money problems, he may have a significant problem with math ... he now faces repo on a car that is worth LESS than what he owes.

The rapper's leasing company has filed docs to repossess his 2010 Ferrari 458 Italia. According to the docs ... Akon stopped making lease payments and now owes a whopping $250,000.  

Here's the real bitch. Blue Book on the car is $225,000.

And it gets worse. The total cost of the lease is $360,000, so Akon could be on the hook for even more.

As for his position ... he says he made at least 37 payments. That's his position.

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78 COMMENTS

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1.

boo boo    

Settlement will be for much less than what he owes and car's value. No tears. Just give the ride back before they take it.

34 days ago
2.

Surfgirl    

Akon come on it can't be true!

34 days ago
3.

TuxThePenguin    

ridiculous. pay your bills. take that fugly car away.

34 days ago
4.

Lucky_130    

I swear nobody knows how to save money anymore, including me

34 days ago
5.

Tazz    

His only response is he made 37 payments? Probably a 6 year note on it and only made half. So he thinks he should have it?

34 days ago
6.

kitnplayn    

If there were any real men in America, wardog would have been put down by sundown.

34 days ago
7.

white grabbing    

Stupid ace

34 days ago
8.

boo boo    

I would drive the shiz outta that car if I had it for a single day.

34 days ago
9.

big teaser    

Who is this?..bishop tutu

34 days ago
10.

iBetty    

No surprise here... (o_0)

34 days ago
11.

40cal    

I'd take that car for a ride like that valet did in ferris buelers day off

34 days ago
12.

MARK    

"Here's the real bitch" not censored in the article (B I T C H) but Harvey wants to be the only adult in the room

34 days ago
13.

Isatou    

I'm confused, how is he having money problems,and unable to pay his car note when he's been touring all over the world. Please help me figure this one out.

34 days ago
14.

Noog    

Dumb ass should of bought a hyundai

34 days ago
15.

Numapass    

He needs to carpool with Sean Kingston to remedial math class

34 days ago
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