A clause in car lease agreement says:If you keep possession of this vehicle pasr the end of the lease you will continue to pay the monthly payments, but you agree that you have no right to keep this vehicle.
unless you enter into a written agreement with us extending the lease term. The problem is if I stop making payments the dealer starts collection process that effects my credit. What should I do?
I am not able to provide specific advice on your situation. However, I can say that when a party has no further duty to perform on a contract, there is no legal basis to act against that party. It a lease agreement has reverted to a month-to-month situation, the possessing party, or that parties co-signer, could end the process by notifying the dealer—in writing—that the car is to be returned and payments stopped.
Thank you for your time. Too bad you are not practicing in NY.