BOSSIP Exclusive: Akon Has Ferrari Repo’d; Ordered To Pay $230K After Defaulting On Lease Payments

- By Bossip Staff

The “Smack That” Singer Had Luxury Car Repossessed After Ripping Off Car Company

Akon screwed over the company who leased him a Ferrari 458 Italia and now he’s been hit with a $230,000 judgment, plus a $14,000 fee for the cost of them repossessing the luxury car from the singer.

Manhattan Leasing Enterprises sued the producer in Fulton County Superior Court last year, accusing Akon of defaulting on the lease. The company claimed in court papers that despite their numerous demands for payments, he wouldn’t pay up. The company claimed that Akon owed a total of $250,000 for his default and damages. They also asked the court to allow them to repossess the Ferrari.

The complaint explained that Akon, real name Aboubacar Thiem, entered into lease agreement for a 2010 Ferrari 458 Italia back in 2011.

According to the lease, the singer was supposed to make a first month payment of $9,319.02 along with a payment of $52,785 and then for the next 58 months he was to pay $5,032.27 a month, plus sales taxes payments of $4,968.32.

Akon had the option to purchase the luxury car at the end of the lease for a total of $120,000.

However, shortly after the company filed the lawsuit, they reached a settlement with Akon over the car. The deal was that the singer would continue to make payments on the lease but he if once again defaulted then they would be allowed to repossess the car and slap him with a judgment in the legal battle.

Flash forward to July of this year — Akon defaulted on the deal he signed with Manhattan Leasing Company and they were awarded a judgment of $230,709.94 along with a vehicle return fee of $13,978.53, which means the singer had his Ferrari repossessed by the company recently.

More Stories From Bossip


Bossip Comment Policy
Please read our Comment Policy before commenting.