Trying to buyout your lease and getting saddled with excessive fees?
Our office has been inundated with phone calls regarding end of lease buyout overcharges. Typically, we hear that various dealerships throughout the State of Florida are charging consumers pre-delivery service fees, document fees, e-filing fees, and a host of other charges in order to consummate an end of lease buyout.
In some instances, consumers have reported that dealerships are forcing them to have their vehicles inspected to ensure they are road worthy or force the consumer to go through a certified pre-owned vehicle inspection process.
In short, there is absolutely no requirement that a vehicle be inspected when a buyout is completed. In fact, most dealerships will have consumers execute a plethora of contractual warranty disclaimers to limit their liability for any warranty disputes. Any attempts by a dealership to require a certification or inspection of a vehicle- at the consumer’s cost- is nothing more than an attempt to purloin additional profit from an unsuspecting consumer.
Additionally, pursuant to the Consumer Leasing Act, all fees required to buyout a vehicle at the end of a lease term must be disclosed within the lease agreement itself, at the inception of the lease. Specifically, 12 C.F.R. § 1013.4(i)(1) provides:
(i) Purchase option. A statement of whether or not the lessee has the option to purchase the leased property, and:
(1) End of lease term. If at the end of the lease term, the purchase price; and
(2) During lease term. If prior to the end of the lease term, the purchase price or the method for determining the price and when the lessee may exercise this option.
In the event a dealership fails to disclose pre-delivery service fees, document fees, e-filing fees, etc. in the lease agreement and nevertheless charges such fees at buyout, the dealership has violated the Consumer Leasing Act, entitling an aggrieved consumer to reimbursement of the improperly assessed fees, recovery of their attorney’s fees and costs as well as up to $2,000 in statutory damages.
As of the date of this post, we have recovered $150,000 from unscrupulous car dealerships throughout the State of Florida for innocent consumers. Think you were taken for a ride during your lease buyout? Contact us today for a free case evaluation.