The 'Flex Lease' Car Lease Scam And How I Got Stung!

Here is a potential Car Dealer Horror Story by Rich about a car lease scam you should know about called a Flex Lease...

"Here is a clever lease scam going around now. Thought you might want to warn your readers.... Customer wants a 3 year lease on a particular vehicle for X amount of dollars a month. Dealership tells customer that the only way to get to that payment is by leasing the vehicle for 5 years. Customer does not want to lease for that long of a term, so dealer tells the customer not to be concerned because this 5 year lease is a "Flex Lease". Dealer states verbally that the customer can get out of the lease with no problem after about 3 years or so. This is a total and complete scam. Leases by their very nature are intended to run their full term. Early termination of a lease on a vehicle can be very expensive, and unless a manufacturer has a special program running to help lease customers terminate early you will pay dearly for the early termination. Customer has no recourse since there is nothing in writing to support any early termination policy regarding this alleged Flex Lease. Watch out for this one!"

Awesome - thanks very much for your input Rich! Car lease contracts can be complex beasts and I deal with them a bit in my car lease section.

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