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...
