IF YOU LEASE YOUR CAR, please read this important consumer warning before your lease ends.
"Turning in" your leased car without reading this message is an easy way to lose thousands of dollars. In a U.S. News and World Report article on July 29, 2021, several auto manufacturers announced that they will try to prevent you from selling your leased car to a third party. Even people that often lease cars may not know that they may develop lease "equity" when their car appreciates more than the lease's purchase option. When you "turn in" your car to the dealership at the end of your lease, you are handing over that equity to the car dealer.
Because used car prices are above average, auto makers don't want you to know how much equity you have built up. They refuse to work with third party dealerships such as Vroom, Carvana, or CarMax.
If you are unable to sell your leased car to a third party, it may run afoul of federal and consumer protection laws, breach of contract, and intentional interference with economic advantage. Please contact Javitch Law for a free consultation.
Are you being quoted prices higher than the consumer's purchase option when you try to purchase a trade-in? Auto manufacturers arbitrarily raising the price of the leased car not only violates the consumers' rights, but the car dealership's rights as well.
If you are having trouble selling your car at the end of your lease, Call Javitch Law today for a free consultation.