Jeepstermania

Hi there,

I was wondering if anyone had gone through the experience of buying back your jeep at the end of your lease.

My lease is up soon with Chrysler Financial. I was thinking of buying the jeep back but the dealer wanted to talk later on next year about this since I may not be purchasing a new vehicle. I asked them if they is any hidden fees that I should know of. He tells me I would need to bring a certified cheque for the residual amount plus HST, a $20 cheque for MTO transfer of ownership. Oh and by the way, there will be a $650 admin fee as part of the buy back.

I don't recall being notified of this during signing the lease so I checked my lease and here's what it saids.

"Purchase option: Guaranteed option to purchase.

I have the right at the end of the Lease to purchase the vehicle "as os" for its Estimated Resisual Value (line 40) of $ 13218.00. In addition to the purchase price I will pay all taxes, and government and inspection fees, costs and charges applicable to the legal transfer of wonership of the vehicle. I understand that you will not charge me any other administration, transfer or docimentation fees if I choose to exercise this option.I will take all necessary steps to obatin a safety cerificate for the vehicle an I will register a change of ownership in the vehicle into my name at the time I purchase it. If I fail to do so, you reserve the right to cancel the registraion and have the vehicle treated as "unfit".

The highlight sentence clearly says there is no other fee. Do I have to pay the $650 which is not specified anywhere in the lease? Is there anything I could do?

Called Chrysler Financial this morning and talked to 2 reps.They say that they understand why I am upset but there is nothing they can do about it. They only lend the money but cannot provide the bill of sale. The dealership will provide the bill of sale for whatever fee they like to charge.(Where on earth is this stated in the contract?) I said this is like paying off your mortgage but the bank cannot give you title to your property, you have to shop around to get your deed to somewhere else!
The Ontario motor vehicle industry council said this is not right and advice me to talk to the GM or the owner. This is a lot of hassle for what is already back and white in the contract. It seems that the lease means nothing, and the dealership has there own plan to charge this even though there is no written agreement.
I have never heard of such business practice. Is this common and reasonable?

Please let me know if you had experience with this kind of thing.

Much appreciate it.

LibertyTC

Contact the Better business bureau & consumer & corporate affairs for advice.
The extra admin fees should not be necessary.