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Smart Shopper Lease Termination Fees and other costs
1004 messages, Last post on Jun 24, 2009 at 4:20 PM
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Help!!! We are at the end of a 5 year lease on a Chrysler Pacifica(would never do it again). The leasing company's inspector gave the car raving reviews and recommended no penalty charges for wear and tear. Now with 2 weeks before turn in we received a letter advising that we should buy the car to avoid a charge we will be responsible for regarding alleged "frame damage". The car was in an accident where the rear quarter panel was replaced. The repairing dealer stated that there was "no frame damage". Leasing company is claiming quarter panel replacement, which is immaculate, from factory and unable to detect by looking at it, substantially diminishes the cars value and we will be responsible for the difference between market value and what they sell it for. What can we do? Lease states "I also recognize that if the vehicle has suffered frame damage or substantial other damage, even though the damage may have been repaired, the value of the vehicle will be substantially less than the value of an identical vehicle which has not had frame damage or suffered other damage." Any assistance would be greatly appreciated. Thank you! |
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Replying to: tmjohnson39 (Jun 15, 2009 11:12 am) good luck ,
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Replying to: tmjohnson39 (Jun 15, 2009 11:12 am) I have never seen a contract that can penalize you for having an accident. If it IS in the contract, you might be SOL. Probably gonna have to get a lawyer.
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Replying to: volvomax (Jun 16, 2009 12:04 pm)
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Replying to: gbosley (Jun 15, 2009 11:27 am) |
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Replying to: tmjohnson39 (Jun 17, 2009 9:01 pm) Lease from a national bank or captive finance co. |
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Have a few questions for the experts on here: We leased a 2007 Nissan Armada SE in Jan 2007 through NMAC with a maturity date of 4/5/10. We are located in Louisiana. The current payoff is right under $21,000. We pay the tax monthly. We are on target with miles at about 29,000. We are considering waiting to lease end and turning it in, but know we will need to put some new tires on it and maybe a few other things prior to inspection. The truck is in great condition. However, we are also considering selling it prior to the maturity date if I can find a buyer. Here goes the questions ... (1) If a dealer does a courtesy trade for us and the person buying will pay the payoff amount, will the vehicle first have to go in our name (since the current owner is NMAC) and we will have to pay TTL? If we need to pay TTL, I assume we will get the tax credit toward the new car purchase like any other trade. Anything else I need to know about going this route? Any other recommendations if we sell it prior to the lease maturity?
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Replying to: sbuhler (Jun 21, 2009 6:12 am) |
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I originally posted this in the Ford Edge forum but found this forum and have reposted this here. I received an postcard from Ford stating that I can return my lease early (2 months). When I went to the dealer today to discuss my options, he stated that mileage would be prorated. For some reason,I was under the impression that they didnt do that. Can anyone confirm this to be true? My only reason for returning the car early was to avoid the over mileage fees. I will wait until the end of my lease and pay it then.
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Replying to: elliemaej (Jun 23, 2009 12:35 pm) |
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