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Page 4 of 29 |
I am at the end of my 48-month auto lease. The lease contract specifies an estimated end of term wholesale value of $7,000. Kelly blue book lists it as around $5,000. The leasing company refuses to change the end of term value for buyout. Do it have any power or legal right to challenge the leasing company? |
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No. Your monthly payments were based upon that end-of-lease amount, and you agreed to it. If the amount were $10,000.00, then your monthly lease payments would have been less. If it was $5,000.00, then your monthly payments would have been more.
All either party could do four years ago was make a "guestimate" as to the actual cash value of the vehicle. |
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