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Lease Termination Fees and other costs

1189 messages,  Last post on Apr 19, 2013 at 4:18 AM

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What is this discussion about? Car Leasing

Messages Page 113 of 120

#1117 of 1189 Re: With whom do you negotiate repairs? [lch77] by dwynne

Mar 10, 2011 (12:40 pm)

Replying to: lch77 (Mar 08, 2011 9:03 pm)
Take it to carmax or other dealers and see what they will pay you for the car. You can sell it to them, pocket anything over lease buyout and walk away.
 
Check http://www.car-part.com/ and ebay for the replacement lens and put that in for yourself - IF you can't sell it for profit to a dealer and need to turn the car in.
 
The bank may win this one getting a low mile return with new tires, but it is a gas hog and fuel prices are rising daily o you might be glad to just be rid of it.

#1118 of 1189 continue with payments by sprty

Mar 16, 2011 (7:54 am)

When we leased our car...we were told we could either pay it off and own it, turn it in and get a new one...or continue the payments as usual...then we just received a letter asking us for title info...very confusing....and also that we would have to renegotiate for payments. why are we now getting told another story?...we were told payments could continue as normal until we pay it off??? i am so confused!!!!!

#1119 of 1189 GMAC/Ally Lease Turn-in by ddelise

Mar 16, 2011 (8:50 am)

So I turned my car into the dealership last Thursday. Per Ally instructions, I filled out the Odometer statement with the Chevy Finance dealer and received a signed copy, called Ally to let them know I made the return, and have been checking the website to view the inspection report. With the website still showing that the report is unavailable, I called Ally this morning to find out they have still not received the paperwork from the dealership. I called the dealership and am now waiting for a call back from the Finance manager with whom I made the return.
 
Needless to say I am very frustrated and concerned about what has been happening to my car since I turned it into the dealer. The GMAC/Ally return process is much harder/inconvenient than it needs to be.
 
Frustrating!

#1120 of 1189 Re: continue with payments [sprty] by dwynne

Mar 16, 2011 (8:19 am)

Replying to: sprty (Mar 16, 2011 7:54 am)
Are youi sure the letter is from your lease bank and not from a scammer?

#1121 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by lch77

Mar 16, 2011 (8:46 am)

Replying to: ddelise (Mar 16, 2011 8:50 am)
My turn-in's have been mostly uneventful, but like you, there was a delay in receiving the paperwork.
 
Read your lease to confirm how long you must continue to pay for insurance on the car. I think my last lease said that if I don't receive the paperwork, I can discontinue the insurance 10 days after turn-in. Make sure that you have a signed receipt showing the date.

#1122 of 1189 Re: GMAC/Ally Lease Turn-in [lch77] by ddelise

Mar 16, 2011 (8:53 am)

Replying to: lch77 (Mar 16, 2011 8:46 am)
Thanks for the info on the insurance. I have still kept it just in case, but will review the contract. I do have the signed paperwork stating it was turned in on March 10.
 
It's weird handing over a car and all you get back is a piece of paper, and then I am at the mercy of the dealer performing their responsibilities on a timely basis.

#1123 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by dwynne

Mar 16, 2011 (9:48 am)

Replying to: ddelise (Mar 16, 2011 8:53 am)
Did you have a pre turn in inspection? A lot of banks do them so there are no surprises come turn in day. If they are going to charge you for stuff you know in advance so you can fix it yourself.
 
On turn in day, they (the dealer) usually do NOT re-inspect it, that is done once they get it to the auction or bank representatives. I always worry I will be hit for damage done after I turned it in - beyond my control.

#1124 of 1189 Re: GMAC/Ally Lease Turn-in [dwynne] by ddelise

Mar 16, 2011 (10:19 am)

Replying to: dwynne (Mar 16, 2011 9:48 am)
No - GMAC/Ally does the lease turn-in inspection after you turn the car over to the dealer. So that is a huge part of my concern. The car has been sitting on their lot for a week. Who knows what could have happened to it.
 
Now I first need to get the dealer to turn in the paperwork. Then I need to wait for the inspection report. And if there are costs for dings/dents/scratches (which there were none of when I turned it in), I am going to have to fight the costs.
 
GMAC/Ally uses a horrible process.

#1125 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by kyfdx HOST

Mar 16, 2011 (4:04 pm)

Replying to: ddelise (Mar 16, 2011 10:19 am)
I'd be very wary of signing a lease with Ally..
 
Currently, on new leases... there is a $2500 purchase option on top of the residual, if you want to buy out the car..
 
Yes... that's exactly what I meant to write.... they want to charge you extra to buy the car at lease end..
 
Most leasing banks will beg you to buy the car, rather than turn it back in... Make sense of that one!

#1126 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by dwynne

Mar 16, 2011 (7:36 pm)

Replying to: ddelise (Mar 16, 2011 10:19 am)
that hurls, and is not what you want at lease end. Most folks would run to another car brand / lease bank for their next vehicle - which should NOT be what they want you to do either.
 
Honda is best I have ever used, with the pre-inspection report and forgiveness for a lot of stuff. They certainly make you want to lease from them again (and we have).

Messages Page 113 of 120

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