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Chrysler Financial - early lease return fail

nostatic

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I won't go into detail, but short story is I was told over the phone by CFC that I could return a leased Fiat early (a little over 4 months before lease end) and just pay the remaining payments and return fee. Now that they have the car they've changed their tune.

-update edit- all sorted out
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Windshieldfarmer

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Read your lease...doesn’t matter what you were told unless you recorded the conversation. The good news, they might have recorded the conversation.
 
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Mikeyut3

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I am confused - what else do they want besides the last 4 payments and the fee?! Isn't that all you owe them?
 
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nostatic

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I am confused - what else do they want besides the last 4 payments and the fee?! Isn't that all you owe them?
if you return early, they can use ”gross early termination amount” and demand the entire residual minus what the get wholesale - this vehicle has residual way above market). I wasn’t told that otherwise I obviously would have waited another month or two to return.

as they say, stuff happens then you die. Lesson learned but it’ll be an expensive one.
 

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beaups

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if you return early, they can consider you in breach and demand the entire residual minus what the get at auction (wholesale - vehicle has residual way above market). I wasn’t told that otherwise I obviously would have waited another month or two to return.

as they say, stuff happens then you die. Lesson learned but it’ll be an expensive one.
Even if you pay all remaining payments? That's bizarre. If that's the case just take the car back and park it in the driveway for a few months, problem solved? or?
 

Mikeyut3

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if you return early, they can consider you in breach and demand the entire residual minus what the get at auction (wholesale - vehicle has residual way above market). I wasn’t told that otherwise I obviously would have waited another month or two to return.

as they say, stuff happens then you die. Lesson learned but it’ll be an expensive one.
Ok so take it back in your possession and pay the 4 months (which you were going to do anyways) - this seems easy...
 

desync0

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If you're making all of the payments you originally signed for and they get the car back early you'd think they'd be happy about that because they're saving 4 months of depreciation?
 
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nostatic

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Even if you pay all remaining payments? That's bizarre. If that's the case just take the car back and park it in the driveway for a few months, problem solved? or?
Ok so take it back in your possession and pay the 4 months (which you were going to do anyways) - this seems easy...
Tried that today - no go. Returned the car to the dealer after getting an inspection (that CC set up). Called CC that day to get the final amount and they said to wait for the statement which is what I just got. Car is already gone from the dealer - I called them today. Dealer said to fight it.
 
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aldo98229

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Sorry to hear.

But yeah, FCA —and all its subsidiaries— is in the money-grabbing business, big time.

Hope you get things resolved.
 

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The Last Cowboy

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Sounds like they handled it as a voluntary repo.
 

JEEPIDON

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The details left out is obviously where the mystery is. If your turning this in early but making all the payments...there is no issue. Is there damage or excessive wear and tear above the lease stipulations?

if that’s the case follow Mikeyut3’s advice.
 
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nostatic

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No missed or late payments ever. Car is no longer in my possession or with the dealer so I can’t get it back. Inspection was 100% clean. CC just decided to treat it as a “voluntary early termination“ and put me on the hook for the residual minus wholesale vale. Which is not what I was told by the original agent I talked to when I asked about an early return (lease is up in Nov - I indicated I’d expect to be paying the remaining 4 payments and return fee). When I got the letter and called to clarify they said, “nothing we can do.” I escalated to a supervisor, same answer. Now waiting for a callback from their supervisor.

Online account still shows current but lists the return fee (which I expected) and also the wholesale value as a “payment” - which the letter says isn’t supposed to happen until the 21st as I’m entitled to an appraisal. Which is hard to do with no vehicle. Besides being not what I was told in the first place, we’re talking almost $15k in balance since it was an electric with a cheap lease, high residual, and low wholesale value. Had I known this would happen of course I would have just sat on the car. But in reading online after the fact, seems they’ve done this to others who turned in within 90 days of the maturity date.

More irony is the reason I called in the first place was I got an email from them saying, “hey your lease is coming due, think about what you want to do.” Can’t really say what I’d like to do at the moment - might be ladies or children reading...
 
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JEEPIDON

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No missed or late payments ever. Car is no longer in my possession or with the dealer so I can’t get it back. Inspection was 100% clean. CC just decided to treat it as a “voluntary early termination“ and put me on the hook for the residual minus wholesale vale. Which is not what I was told by the original agent I talked to when I asked about an early return. When I got the letter and called to clarify they said, “nothing we can do.” I escalated to a supervisor, same answer. Now waiting for a callback from their supervisor.

Online account still shows current but lists the return fee (which I expected) and also the wholesale value as a “payment” - which the letter says isn’t supposed to happen until the 21st as I’m entitled to an appraisal. Which is hard to do with no vehicle. Besides being not what I was told in the first place, we’re talking almost $15k in balance since it was an electric with a cheap lease, high residual, and low wholesale value. Had I known this would happen of course I would have just sat on the car. But in reading online after the fact, seems they’ve done this to others who turned in within 90 days of the maturity date.

More irony is the reason I called in the first place was I got an email from them saying, “hey your lease is coming due, think about what you want to do.” Can’t really say what I’d like to do at the moment - might be ladies or children reading...
That is beyond bizarre, never heard of anything like this. I did the same thing years back wth a lease on a 1999 ford pickup. I turned it in 2 months ahead of time but made the payments and fees. The dealer actually let it set in their fenced off area for almost two months before disposal.

obviously with a 15K charge at stake, I see your rationale for legal assistance. Hopefully it won’t take more than a legal inquiry on attorneys letterhead to wake up these idiots. Good luck, story to hear this.
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