You Were Overcharged When You Purchased Your Leased Car

Participate in a Class Action Lawsuit to Repay You

Almost one-third of all vehicles on the road are leased. All lease contracts include an option to purchase the vehicle at a price predetermined by the leasing company.

 
Many lessees don’t know about their option to purchase at a specific price. Those who do know are usually unaware that the dealer and leasing company cannot increase the purchase option price included in the lease contract. In fact, this is common practice by almost all car dealers and the leasing companies are almost always complicit in this violation of the federal Consumer Leasing Act of 1976.

 
The violation of the law has been very common, perhaps because few people asked to exercise this option. In the past 2 ½ years, with the advent of the Covid pandemic, more people are leasing, and far more people are exercising their option to purchase. This is because the prices of all used cars have soared!

According to the U.S. Bureau of Labor Statistics, the consumer price index for used cars and truck jumped up by 40.5% from January 2021. That means that if you leased a used car in January of 2021, your purchase option price is about 40% lower that the market value. The leasing company that established the purchase option price didn’t foresee the surge in used car prices. Most people driving lease cars have several thousands of dollars in PROFIT baked into today’s market value of the car they’re driving.

Of course, auto dealers and leasing companies are very much aware of the profit opportunity in your lease cars option to purchase. They hope you don’t know about the option because they want the car for themselves. If you do know about and exercise the option, the dealers are adding thousands of dollars on top of your option price. This is illegal and a violation of the federal Consumer Leasing Act of 1976.

If you’ve already been victimized, there’s still hope that you can “be made whole” again. Public awareness is growing. WPLG, Channel 10 in Ft. Lauderdale recently reported on this crime and there are many car dealers being sued. I’ve written several articles about this, and you can access those articles at www.EarlOnCars.com.

 
You also have an opportunity to participate in a national class action suit which may be filed against Ally Financial and Ally Bank Lease Trust. If you leased Chevrolet, Buick, GMC truck, Cadillac, Jeep, Chrysler, Dodge or Mitsubishi, you probably used Ally. If you’ve been told by your car dealer that you must pay a price higher than the purchase option amount on your lease contract or if you’ve already done so, you have a cause for action.

 
A South Florida resident, Moshe Katzburg, will represent the class action, and you can join in. Email Moshe Katzburg at moshekatzburg@hotmail.com with a complete description of how you were taken advantage of…dealer’s name and information on the car you leased and the purchase option price. Describe the extra charges above the option price that the dealer insisted on. Mr. Katzburg would prefer email but will speak to you if you need to call. His cell phone number is 845-323-6143 and you may text him there also.