Good luck buddy!
It’s a very gray area
that guy probably never heard of LH…
What’s grey about it?
If anything … this will result in 2 more pages of T&C on the backside of our lease agreements
The legality of them pulling 3rd party buyouts or lease transfers after a signed contract.
Like for MB who pulled lease transfers had to allow them in the state of CT due to some legalities they were violating.
What’s so grey about, I want to sell your property and you won’t let me!
Also the title is misleading. They didn’t Sell Off-Lease SUV they didn’t let him sell off leased SUV.
I’m still waiting to see a contract that says they were ever required to do any of those as part of the terms.
If someone can point to what in the contract disallowing 3rd party buyouts violates, I’m all ears.
I don’t think the guy wins but he isn’t arguing the contract allows it he is arguing State law gives him that right.
It doesn’t matter what the contract says if California law gives you the right to sell to a third party. Just like how an automaker can’t put (enforceable) language in a contract that waives ones lemon law rights.
This will be nice to test, lets get a definitive answer.
yeah this has been beaten to death here. stopping third party sales is not illegal. the purchase option in a lease agreement applies to the lessee only. nobody is required to let you sell something that’s not yours.
This is good for consumers. It will put more internal information about leasing and the companies on the public record.
So only the leasee can do the buy out but a 3rd party can’t. See, that’s the problem I have with this. Either allow a buyout or don’t. Because at the end of the day the manufacturer wants the car back if the lessee won’t buy it, so they can stock dealers lots or offer it for sale themselves. You know what they say, “piss poor planning…” from all of the car makers has lead them down this dark hole.
What is to be gained by only allowing the lessee to buy the vehicle? I get it, many won’t buy, gotta pay tax, have to wait for the title, but still. If you have that much equity in a vehicle, you should just buy it, sell it and move on. I still think it’s a crock of shit on what BMW and the rest are doing.
Why? It’s a contractually agreed on benefit to leasing.
Why what? Allow buyouts or don’t. Selectively picking who can and who can’t is as I said, IMO, a crock of shit.
Everyone party to the lease is allowed to buy it out.
No shit sherlock
If that’s the binary that banks have to choose between, they’ll choose “don’t” every single time.
It’s only because these companies are in a shit storm over inventory and production. For years leases could be bought out by anyone.
I understand they can do whatever they want, but it’s just another case of big business screwing the public.