Leasing Company

[Anonymous]

I had a 5 year lease with a major auto co., paid all payments on time, the dealer called 3 months before lease was up and asked us to come in and evaluate our end of lease decision ( i.e. return, trad-in or buy out) we were intending to buy out and resale the car, the dealer asked us to leave the car for a couple of day,s so  they could evaluate it (i.e. milage and condition) we still had three months on our lease, when we went back to get the car

, the dealer said that the lease co. said to sell it, when i called the lease co. they said the dealer made a mistake ( blame game ) . My question is, I had the choice to buy out at the end of the lease but that oppertunaty was taken away from me, now the leasing co. has turned me into collectionsfor all cost plus the three months i still had on the car that they sold at auction, i never signed any realease for them to do so. What do i do now with the collection co. ?

[chartley3]

This is one of the main reasons why I do not lease cars. My suggestion to you is to contact the dealership, escalate it to the owner if need be and inform them of the issue and that it is now affecting your credit report. Make them pay the monies owed to the leasing company and have them delete the baddie. You have enough to take the dealership to court and win damages if they dont want to fix this.

[Anonymous]

It hasn't been turned to the three credit , the collections co. has asked if i dispute the bill, i do how do i respond.

[chartley3]

Just as I told you. Dont deal with the CA until after you speak with the dealership and try to get them to fix it. You have 30 days to dispute the info so you need to get moving on this.

[Anonymous]

Why did they have possession of car that you had 3mos left on?

[thom02099]

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@Anonymous wrote:

I had a 5 year lease with a major auto co., paid all payments on time, the dealer called 3 months before lease was up and asked us to come in and evaluate our end of lease decision ( i.e. return, trad-in or buy out) we were intending to buy out and resale the car, the dealer asked us to leave the car for a couple of day,s so  they could evaluate it (i.e. milage and condition) we still had three months on our lease, when we went back to get the car

, the dealer said that the lease co. said to sell it, when i called the lease co. they said the dealer made a mistake ( blame game ) . My question is, I had the choice to buy out at the end of the lease but that oppertunaty was taken away from me, now the leasing co. has turned me into collectionsfor all cost plus the three months i still had on the car that they sold at auction, i never signed any realease for them to do so. What do i do now with the collection co. ?

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You should be consulting a contract attorney.  You have a lease agreement that you originally signed, that spelled out the specific terms and conditions.  Unless the T&C have a clause that allows the actions of the dealer and the leasing company, the dealer and the lease company have violated those terms.  You need an attorney to go over that contract in detail, to determine your specific rights and recourse.  If it were me, and there's no clause for that 3-month period, I'd also advise both of the companies, very calmly, that they can expect to hear from your attorney on the matter, since they violated the contract. 

[Anonymous]

When you dropped the car off at the dealer, did you sign anything?

To echo the sentiments of chartley3, I too avoid car leases. And advise others to do likewise unless there's a very compelling reason to do so, such as wanting to driving a luxury car beyond their means and/or for tax purposes. I've known far too many people get burnt on leasing (condition, mileage, etc) come return time; paying far more than if they'd simply bought a modest car that fit their budget to begin with. It's no wonder many car dealer ads rarely mention purchase price / hide it in the fine-print, but I digress.

Definitely in agreeement with others here, consult with an attorney asap.

[RobertEG]

I agree with prior advice..... consult an attorney, and have him or her contact the creditor.

They need to know you are seriously pursuing the legalty of their action.

As for the debt colector, I would not ignore them.

I would send them a debt validation (DV) request, and including a request for itemization of the alleged debt.  Get it in writing.

The additional advantage of a DV is, if timely, its impostion of a cease collection bar until they provide validation.

Has the debt collector sent dunning notice, and if so, when?  Has the debt collector reported a collection?