end of lease inquiry

justanotherquestion · ‎01-25-2018

we turned a lease in on 10/15/2016. i just got a letter today stating we owe 730 from gmac. the car was sold in 12/2016 per the letter.

what is the time frame for us to get this invoice, is there any statute that is in our favor for not having to pay this after all this time?

Kree · ‎01-25-2018

Could you please provide a few more details such as why they say you owe 730? The reason for the invoice could make a difference. Also when you turned the lease in, was this the scheduled end of lease, or a early termination?

justanotherquestion · ‎01-26-2018

sorry for the late reply.

we had the car up until we got a letter we had to turn it in, we never had an inspection or anything from gmac until that point.

turned it into a chevy dealer, never heard anything until this new letter showed up yesterday.

car sold, 12/2016.

accrued late&unpaid fees - $190

past due payment - $159

cost to prep for selling car - $350

Kree · ‎01-26-2018

Did you get paperwork from the dealership where you dropped it off?

What it sounds like, to me, is you turned in your lease, but it wasn't properly processed. Most leases have a 350 turn in fee, if you paid it, then you can fight this thing. If they did not charge you the fee, but you have paperwork showing you are clear, you can fight this.

What most likely happened, according to them, is that you didn't pay the fee; and so the lease was not "closed". The next month rolled around and a extra month was added on, then late fees on top of that. When the dealership sold the car, the account got closed, so you only have the 1 month/fees. I had a similar issue. Paid 9888.27 to buyout a lease. The dealership took 9888.27, but on the paperwork sent to the leasing company wrote 9888 and dropped of the coins. The 27 cents kept my account open, even though I paid, and took months to get straightened out. My TU is still showing a 30d late.

Check your turn in paperwork.

justanotherquestion · ‎01-26-2018

we never got anything from the dealer we turned it in at. we had moved and turned it into a dealer in fl and they really did not want to take it. had to fight with them to take the car and all we got was a odometer reading certificate. and then we never heard from them until yesterday.

i cant imagine having to pay this over a year after the car was sold, no paperwork from the dealer we turned in from nothing.

Anonymous · ‎01-26-2018

Unfortunately the onus and responsibility to follow the lease return checklists is 100% on you, not the dealer, not the lender.

Turning in a lease requires strict structures, follow through, paperwork and follow-up non stop until you literally get confirmation from the lender that your balance is $0. I hate personal leases for many reasons, but this is one of the top ones. If you don't get a written letter with a $0 balance, your lease isn't over.

I tell most people to keep paying leases until they get a refund check from the lender. And if they don't send you that refund check, keep paying as if you have to sue them, the ball is now in their court.

Kree · ‎01-26-2018

wrote:
we never got anything from the dealer we turned it in at. we had moved and turned it into a dealer in fl and they really did not want to take it. had to fight with them to take the car and all we got was a odometer reading certificate. and then we never heard from them until yesterday.
i cant imagine having to pay this over a year after the car was sold, no paperwork from the dealer we turned in from nothing.

When people move things take a while to catch up. I would say you are fortunate to only owe 700. If the dealer hadn't sold the car, you bill could be several thousand.

Since you have the odometer paperwork, I would try to contact the financing department. Explain the situation to them, try to see if they will take the 350 and then drop the month/late fees off. This would be easier to do with more paperwork, but the odometer statement might be proof enough, along with the fact that they sold your car a month later. Also double check your original leasing paperwork. 350 is the standard now, but it used to be 300. They might have applied the standard fee without actually double checking your paperwork and 4-5 years ago is around when it changed, you might be 50 bucks luckier.

Alternatively, consult a lawyer. If they charged you an extra month, they considered the car still yours. By selling the vehicle without you signing turn-in paperwork, they might have broken some sort of property law. This could be cause for a small claims court case and some extra dosh in your pocket.