Vehicle Lease Almost Done? Check Your Next Statement Carefully

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Thread: Vehicle Lease Almost Done? Check Your Next Statement Carefully

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    News Contributor Premium Member Perian's Avatar
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    Vehicle Lease Almost Done? Check Your Next Statement Carefully

    .
    My end of lease statement from Jaguar contained a little surprise this month - which I will accept:

    "We extended your lease end date by 6 months as a response to COVID-19.
    To accept, continue making monthly payments instead of returning the vehicle on your maturity date. No need to contact us. If you don't want an extension, you can turn in the vehicle."












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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    A friend was telling me some companies are refusing to accept the return. The only way you can return it is if you get something else. I guess they have no place to put the cars on the lots. One woman ended up hiring a lawyer to return the car.

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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    I know FORD is saturating the airwaves with ADS for payment holding and we are with you ETC BUT NOTHING at all about leasing and returning the vehicle

    IMHO NOW would be a GOOD time to change up if you can as the lease "looked in" the trade in value but the NEW car is lower priced / better finance rate NOW but I doubt dealers / GM credit WANTS USED cars right now if they can NOT "steal" them

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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    You cannot simply shut down a nation's economy and not have waves and waves of dysfunction emanating out in a never-ending pattern. I could possibly buy into this "emergency" IF all state and federal officials involved in the shutdown immediately lost their paychecks for the duration. But they live and work in isolation, they preach their royal wisdom but do not pay the price that they rain down on the peasantry. Here is yet another example.
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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    Quote Originally Posted by Vagon11 View Post
    A friend was telling me some companies are refusing to accept the return. The only way you can return it is if you get something else. I guess they have no place to put the cars on the lots. One woman ended up hiring a lawyer to return the car.
    Jon Shafer at Bimmerfest explained very succinctly why this is the case:

    Quote Originally Posted by Bimmerfest
    "There is a very simple answer as to WHY:

    The Manheim Auto Auctions are CLOSED...

    They have no way to "remarket" off-lease vehicles at the present moment, those that the dealer who takes the lease return in doesn't want to purchase."
    God and guns keep us strong. That's what this country was founded on. - Lynyrd Skynyrd

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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    Quote Originally Posted by Neanderthal View Post
    You cannot simply shut down a nation's economy and not have waves and waves of dysfunction emanating out in a never-ending pattern. I could possibly buy into this "emergency" IF all state and federal officials involved in the shutdown immediately lost their paychecks for the duration. But they live and work in isolation, they preach their royal wisdom but do not pay the price that they rain down on the peasantry. Here is yet another example.
    All those useless Newsies are much the same. Doing it from home giving us endless spin and getting paid. Make them go in to the networks and not be in isolated different studio sets when there...

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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    A Closed End Lease is a Binding Contract. The "Lease End Value" is Guaranteed @ the time of Signing.

    Neither GM or Ford's leases are "Open Ended" where the "Lease End" value is determined @ "Lease End" time.

    In the last "Down Turn" (2010/2011) I was "Terminating" Leases lese a Residual Value of $27-29,000, Ford was offering them back to me the next day for $18-19000.

    No Costs to the Leasee. Except any excess wear and tear.

    Lease Extensions, are fine, but you pay the Same Payment every month. but the Residual Value does not change. Nor does the Max Mileage, so if you lease 3 extra months with a 60,000 mile (20000 per year) you will still pay extra Miles over 60,000
    Last edited by InCogKneeToe; 04-20-2020 at 04:15 PM.

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    Re: Vehicle Lease Almost Done? Check Your Next Statement Carefully

    Quote Originally Posted by Neanderthal View Post
    You cannot simply shut down a nation's economy and not have waves and waves of dysfunction emanating out in a never-ending pattern. I could possibly buy into this "emergency" IF all state and federal officials involved in the shutdown immediately lost their paychecks for the duration. But they live and work in isolation, they preach their royal wisdom but do not pay the price that they rain down on the peasantry. Here is yet another example.
    Thank you for saying that. I agree word for word. The ignorance over the economic impact of this situation is mind-boggling. And only now are some politicians and the media calling for government pay cuts, something that should have been in place at the very start. We have enormous sectors of the government that represent non-essential services, not the least of which are our inept elected overlords.
    *******************

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