Legal Question in Business Law in Pennsylvania

Car Lease Agreement

My lease agreement on my car is coming due. I leased this car 5 yrs ago and I went to another dealership to purchase another car, with them buying out the remainder of my lease. When the financial manager read over my lease agreement, he told me that legally, the car was never mine. He said the signature of the bank is not present, so the lease was never accepted. He told me that I should get a lawyer to get my 5 yrs of payment back. Only my signature and the dealership's financal manager's signatures are on my copy. Is this true? Is my agreement void because of the absence of the lender's signature?


Asked on 2/23/02, 8:44 pm

1 Answer from Attorneys
Brandon Barnett Brandon J. Barnett Attorney At Law

Re: Car Lease Agreement

I have never heard of this, also if you paid the lease and used the car you have a valid agreement even without proper signatures. I think the new finance manager is making this up. All you need to do is call the lease company you are paying and see what the buyout is and they will give the residual value of the car.

Brandon Barnett, Esq.

412-916-1677

www.youresquire.net

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Answered on 2/24/02, 10:48 pm


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