Legal Question in Consumer Law in Michigan

Auto Leasing Question

I took delivery of a new vehicle that I am leasing on December 31, 2002. Yesterday, January 21, 2003, the dealer called me and admitted to making a mistake on the interest calculation and the leasing company rejected it. The correct rate is $40 per month higher (20% increase). He says I am required to come in and sign the new lease agreement. I currently have the existing lease agreement with the correct terms signed by the dealer. I've heard dealers can do this if the leasing company does not accept the terms, but I'd like to return the car and get my deposit back, since I cannot afford the higher payment. Can they force me to sign a new contract? There is no way I'd pay that much for that car and if I knew that when I walked in, I would not have purchased it at that price. My credit rating is perfect, the dealer just screwed up.

Thanks!


Asked on 1/22/03, 5:49 pm

1 Answer from Attorneys
Don Darnell Darnell & Lulgjuraj, P.C.

Re: Auto Leasing Question

A contract requires what is called a "meeting of the minds." It doesn't sound like you agreed to the higher payment, so there is no meeting of the minds in that regard. Taking the facts as you give them, you have no obligatoin to pay more than you agreed to pay. The dealership has the problem, not you. If you return the car, you might be in breach of the lease agreement you did sign, and be liable for damages under that contract. So you probably don't want to return the car - as the damages could be significant. Good luck.

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Answered on 1/23/03, 9:29 am


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