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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 100033
Experience:  Lawyer
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My full disclosure lease with purchase option states that voluntary

Customer Question

My full disclosure lease with purchase option states that voluntary early termination is possible if the vehicle is not in default. You have to return the vehicle to the dealer and pay the following a) the difference, if any, between the unpaid net lease price of vehicle and the vehicles fair market wholesale value, plus all other amounts then due under this lease. Does this mean that I still have to pay the entire lease amount if I terminate early? According to my leasing company I still have to pay each month till the lease is over if I return the vehicle early
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.
The wording is not clear because it does sound like you do have to pay that amount of money which makes no sense because why would you return the car early? I would have thought the intention was that you would pay the difference between what the car is worth only and not have to pay the lease payments for each month.I suggest that your best next step be to have a lawyer quickly review the lease for you and then send a letter to the dealer asserting your rights. Their reading of the terms of the lease just doesn't make sense and you would not have agreed to that.

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