I leased a 2006 Jeep Commander from Bob Frensley on 1-9. I was given credit for my trade-in of $12,500. I was also given a $2,000 rebate. I agreed to $444.59 payments for 39 months. I will have paid $17,337 to the bank for my lease, plus the trade-in credit of $14,500, plus the rebate of $2,000 which equals a total of $31,837 that I have paid for a jeep that only cost $44,870.
I now discover that I would still owe the bank $24,403 even after paying almost $32,000 on $44,870. My residual should be about $13,000. $44,870
-31,837 equals $13,033 not $24,403
The reason why I still owe $24,403 instead of the $13,000 I should owe is because Bob Frensley Jeep charged outrageous fees and taxes to keep the trade-in credit for their company and thought if they tacked the balance onto the end of the deal in the residual value that I would never know it. They thought I would just turn in the car and lease another car.
What they did not know is that I had always planned to purchase the car at the end and that is why I put so much money down on the lease. The salesman, Charles Dalton told me I would only owe about $12,000 at the end and it would be easier to buy at that time. I also found out that he either quit or was fired the next day after my deal was done.
When I called Bob Frensley, I spoke to a quality control person who would not help. Then I spoke to Chad Cunningham who would not help. I have left messages for Bob Frensley and no return phone calls. I want my trade-in value back in the form of cash, $12,500 because I cannot retrieve my car that they stole and sold.
0 comments