oonowindoo

So i returned my G37 2 weeks ago back to the dealer with 18k miles =)


My maturity date is 6/11/10 , so my last payment was due on 5/11/10 ( for lease u always pay a month ahead).. i made my last payment as soon as i receive the bill in early May.

I returned the car to the dealer where i bought it and everything is fine.

Today i received a letter from IFS says "Early Termination of Lease Notice of Intent to sell Vehicle"

"The amount you owe for early termination will be no more than the difference between the gross early termination amount stated above and the appraised value of the vehicle"

"please note that if the sum of your monthly lease payments not yet due plus any excess wear and use and millage is less than your adjusted lease balance minus the realized value of the vehicle, we will accept this lesser amount"

"We are attempting to collect a debt and any information obtained will be used for that purpose"

That was basically the letter... anyone else received this kind of letter before? i heard it is required by CA law.

someone please translate it to English please... it sounds like they r trying to sell the car i returned and i will owe whatever the difference? WTF?

i have leased a lot of cars before, this is the first time i receive this kinda letter

Dr. Colorado

That's odd. You fulfilled your lease payments for the entire duration of your lease agreement. The stealership might have made a mistake thinking you opted out of your lease agreement before it was up. I'd get the manager on the horn.

Eoanou

I am willing to bet it's this.