Comments:
I just want to add my experience to the list. I decided to trade my old car on a new Honda Accord. The dealer encouraged me to lease it. So I did. I was directed to Chase Automotive Finance and the dealer handled the leasing arrangements. To make sure I made my payments on time I signed an agreement to allow Chase to arrange with my bank to withdraw the monthly lease payment directly from my account. Everything went great until the 36 months was up.
Chase sent me a notice inviting me to buy their car at the suggested fair market value at termination. I had some extra cash and decided not to purchase the old car, but rather to buy a new car.
Much to my surprise Chase removed a monthly payment from my bank account after the lease expired. They sent a local transporter agent to pick up my leased vehicle early one morning. Three men went over the exterior of the car while my husband watched. The car was in excellent condition and they could only find two very small scratches. They and we signed an acknowledgement of these two scratches. A few days later I got a billing from Chase for $300.00 for not purchasing the car. The fee was setforth in the lease contract under the heading "Early Termination". Of course I was not planning to terminate the lease early so did not realize the $300.00 was going to be charged just because I did not buy the car. Chase added an additional $770.00 for 12 dents and scratches they claim the car had. Then according to the lease they deducted $100.00 of this making the damages $670.00. Of course 10 of those dents and scratches did not exist. Then they added $41.88 on for taxes. As I say, the car was in excellent condition. I had driven it 15,000 miles less than the lease called for and always kept it in our garage.
I wrote the top Chase management complaining of this $1,011.88 charge. My husband came across this Chase complaint site and decided any complaint was a lost cause. He called and luckily managed to negotiate a $270.00 reduction with the leasing department and I quickly paid the bill. Later, true to form I received a letter from the Chase officers demanding full payment. They were unaware that the matter was settled by their underlings. I had pictures and witnesses that there were only 2 small scratches. However, they could have concocted up all kinds of mechanical defects and I could not have defended against that.
THEREFORE, MY ADVICE IS BE VERY CAREFUL ABOUT LEASING A CAR. MAKE SURE THE LEASING COMPANY IS ETHICAL AND TAKE A COPY OF THE LEASE HOME AND READ IT AND ASK QUESTIONS AND BY ALL MEANS DO NOT LEASE A CAR FROM CHASE MANHATTAN AUTOMOTIVE FINANCE, A DIVISION OF CHASE MANHATTAN BANK.
They are a large company and they know they can just run over the little customer, but I have a hunch, if this attitude continues, the little customer is going to one day fight back and put them out of business. This site is a good place to start!
