Hello,
I’ve searched/read many threads about dealers requiring the resigning of leases, but I haven’t found one that is the same as my situation…so, here’s my problem.
I’m going to keep the details as short as I can, but I will supply more if you need them: My first ever lease experience has become so stressful that I now hate the 2019 Lincoln Navigator Reserve L which I leased the end of June, 2019.
I traded in a smaller SUV which worth (at retail) approximately what I owed BMW on a 0% loan. The sales contract for the trade is exactly the payoff amount and my loan was paid off by dealership in mid July. I got my Lincoln Financial welcome letter about same time and set up automatic online payments in time for the second payment to be made. All was well…or so I thought.
End of August I start getting emails from Finance dude saying the original lease needs to be rescinded and I have to sign a new lease. He says problem is with the County objecting to the way taxes were collected and the car cannot be titled/licensed with original contract.
New contract and rescission agreement are sent to me along with second temporary permit. I discover my payment is increasing slightly, but the Capital Cost Reduction is more than doubled! AND it’s BACKDATED to June. The rescission agreement says original is rescinded but also says new contract is taking it’s place…so it’s not really a rescission.
I do a quick internet search and read about yoyo scams and such. I’ll be a 69 year old lady next month and didn’t appreciate the condescension I was getting during the original negotiations, so this just was too unsettling for me to feel comfortable. Therefore, I said if the original contract could not work, I would agree to rescind that contract, but I would not be signing a new lease. If that meant the car must be returned, then so be it.
Since then I have been threatened with numerous consequences: being charged $50/day and $0.50/mile if I returned it; ruining my credit by reporting a “voluntary repossession” and having a car I must pay for but not be able legally drive.
I just keep repeating my position and they continue to refuse take back the car. Then, in mid September, I receive two letters from Lincoln Financial. One is a credit denial and second is saying they are making a Counteroffer through the dealership. So now I’m really confused.
My credit report shows 4 hard pulls (the last one in August) which has caused my score to drop from 800ish to 750. I signed one credit application only and that was in late June!
At this point I just want my trade in back and to be done with Lincoln!
There is no paperwork on file with the County and I cannot get license plates. The second temporary permit expires near the end of October when I will be out of state on a road trip. What should I do at this point?