Just wanted to point out some new verbage that is being used in a lot of dealer ads right now, which could really bite a lot of people in the end…
“Lesse may be responsible for additional charges at end of the lease term based upon the difference between the residual value and its realized value”
That’s an exceedingly odd clause for a lease.
Do you have the specific language in the lease contract?
That is just listed in the fine print for the ads ive seen but havent seen an actual contract yet…
This imparticular is all with stellantis financial if that matters… Could be a thing on their end as i havent seen it with any nissan/gm etc…
Sounds like a baloon loan(low monthly payment with large sum due at the end) which to me knowledge is illegal in some starts… in particular Colorado where I am. Not sure how they are getting away with it
Fortunately, whats in the dealer ad is irrelevant. It’s the contract that matter. I wouldnt stress until you see a change to contract language.
You are correct, that clause would normally only apply to an open-end/balloon lease where the lessee is obligated to purchase the vehicle at the end of the lease.
I wouldn’t expect this to see this in a traditional closed-end lease.
Whoever is advertising that is probably using one of those shitty banks/leasing companies.
Or theyre like most dealers who are clueless as to what their contracts actually say.
That’s the most benign explanation. But I’d still make sure they’re not using a shady lessor.
