Legal Question in Business Law in Ohio

Employee Auto Lease Purchase Plan

My employer offered a program to the upper management personnel. The agreement states that the vehicle will be purchased from the dealer though their fleet purchase program and sold to the employee through payroll deductions.

If the employee leaves the company they agree to return the vehicle or pay the balance due with in two weeks.

I agreed to the purchass of a 2002 Ford 250 though this plan. I have paid $19,000+ towards the vehicle and owe the company a balance of approx. $8,000.00. The vehicle has only 34,000 miles on it.

The president/ceo retired and the new president brought in his own staff and I was terminated.

Being unemployed I can not get a loan for the balance and they demand the vehicle back. I feel that I have a right to continue the payments, as i have a sizeable intrest in the vehicle.

Do i have any recorse. They are being very unreasonable.


Asked on 12/02/05, 6:47 pm

1 Answer from Attorneys
Joseph Jacobs Jacobs & Lowder

Re: Employee Auto Lease Purchase Plan

IT all comes down to how the contract is worded. sounds like you only have the right to pay it off within 2 weeks, and not to make payments. If that's what it says exactly, that is the deal which you agreed to. But in order to know this for sure I would need to see the contract or other documents that describe the agreement. I would also like to know about the termination scenario, which could generate a whole other angle.

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Answered on 12/03/05, 1:14 am


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