We shared reports last week on fees being charged to customers who come to their lease end and want to buy out their car at the agreed upon price. There were examples of vehicle inspection fees, delivery fees, and dealer fees.
WSVN 7 posted the following video of a nice lady who went to “Help Me Howard” after she tried to buy her vehicle and the dealer wanted to charge extra fees.
In the video, attorney Howard Finkelstein stated, “Yes. They can charge those fees if you buy through the dealer….You can avoid this by going to your bank…”
Our take on this, if your lease is coming to an end and you want to buy it outright, contact the leasing company. It might be Ford Motor Credit or Honda Financial, etc. Call them and ask them what’s the best way for you to buy it without paying for extra dealer fees. Shop around at different banks if you’re planning on financing. You may be able to finance directly with the same company that handles your lease payments.
Bottom line: shop around. And don’t pay for an inspection fee or a delivery fee. The dealer isn’t delivering anything for you on a car that’s already in your possession.