At 18, an intelligent witty young lass was I, I entered into a lease for a 2001 Ford Focus. Needless to say, as we all know young people will, I put on some excess mileage on the vehicle by the end of the lease. I was not concerned, afterall, my salesman assured me I would have the option to buy the vehicle at the end of the lease. Because I was 18 and had no established credit, my mother signed the necessary documents as co-signer and was approved.
However, when my mother applied for financing at the end of the lease term, she was not approved. How baffling! Alas we were left with truly no option to buy, unless we could fork over the $7,000 in cash that very day to pay for the "excess mileage" on the vehicle and such and so were forced to pay only for the mileage with no hope to purchase and own the vehicle in the aftermath. What a scam!
Today I am consistently being harassed by Ford Motor Co. Or its representatives / affiliated debt collecting agencies to pay an outrageous amount of money for the excess mileage alone in addition to monthly interest on this overmileage despite that the company sold the car years ago and have already made a profit on my misfortune!
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