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.
Reports TMZ:
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.”
According to the lawsuit, Bow Wow still owes the bank $21,371 — and the bank wants every penny.
TMZ broke the story … Bow Wow is also being chased down by a collection agency over a $283,000 judgment against him, stemming from a Ferrari he stopped making payments on.
Sources close to Bow Wow tell us, the rapper attributes all his money issues to his crappy ex-management team. We’re told he has since cleaned house and is now working to fix his financial mess.
And now…
This is EbenGregory.com…telling you it sounds like Bow Wow went from rich to rich-poor in two ways. Gradually and suddenly.
What ever happened too having a luxury cadillac,range rover and a vette(classic,truck,sports)…..cant go wrong that…..time too get back out there and find your base thats grown up a now.#goodluckbro.
Son, thats some real f**ked up rules, homie. How you gonna charge me to take the ride I couldn’t afford in the 1st place? #Tricknowledgy