In October my partner and I leased a 2002 Isuzu Rodeo from what was then Bernard Chevrolet in Libertyville, IL (at present they are called Libertyville Chevrolet). We signed an agreement with them that said at the end of five years we could purchase the car for just over $7,900. But we were not required to purchase; we could just turn the car in and walk away.
The five years have passed and we made all of the monthly lease payments and then on the 29th of September returned the car to Libertyville Chevrolet. We were provided with a document that showed the mileage and that we had returned the car.in fact the mileage was less than 43,000 and the contract allowed 50,000 before we started to pay extra per mile. So we assumed that all was well.
But when one deals with Fifth Third Bank who was the agent involved in the contract one is apparently never safe. They have now informed us that we owe over $8,100 for the "loan" and $397 in late fees. I have talked with Libertyville Chevrolet and been assured me that the paper work was sent to Fifth Third.in fact the dealership was interested in acquiring the car based on the low mileage but when they contacted Fifth Third the bank wanted over $10,000 from the dealership to acquire the car. So we are sure that they know the car had been returned. And yet they are still demanding not only that we pay more than the contract called for at its expiration but that we pay late fees. They are either very incompetent or they are trying to demand money from us fraudulently. Neither option is an attractive picture for us to face. They will also I am sure start threatening us with ruining our credit record and putting us into collection very soon.
We have done what we are supposed to do, made our payments, and returned the car in good shape with low miles and ahead of the last day of the lease. Why should we be getting this grief from Fifth Third?
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