Tyga is reportedly being sued for failing to make car payments on a red 2016 Ferrari 488.
Alex Benedict, the lessor of the vehicle, filed a suit against the 27-year-old rapper earlier this month, according to People.
Benedict claims he agreed to a deal with Tyga in May, but had to have the Ferrari repossessed twice after the rapper didn't make payments.
TMZ reports the first repossession took place Aug. 31, but Tyga negotiated to get the car back and return it Oct. 9.
He allegedly didn't return the vehicle, and it was repossessed again Nov. 8.
Benedict is seeking $150,000 in damages, attorney fees and punitive damages, according to E! News.
His lawyer, Ron Chini, told the New York Daily News that Benedict had no choice but to pursue legal action.
"We attempted to work with Tyga and his representatives before filing this lawsuit. Unfortunately, they all but ignored our requests to return the vehicle forcing us to take action and file suit," Chini said.
Tyga's girlfriend, "Keeping Up with the Kardashians" star Kylie Jenner, gave the rapper a $300,000 Bentley Bentayga in September after the Ferrari was repossessed for the first time.
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Tyga had gifted Jenner a $200,000 Mercedes Maybach for her birthday the month previous.