Can I cancel an auto lease agreement without penalty in NYS,? I signed the lease and took possession today,

Asked over 1 year ago - Kingston, NY

This was a no money down lease. I didn't realize that there is a $400 'Disposition' Fee at the end of the lease period if I do not purchase the vehicle.

Attorney answers (3)

  1. Jayson Lutzky

    Pro

    Contributor Level 20

    6

    Lawyers agree

    Answered . Bring lease to a lawyer to review with respect to termination clause immediately.

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  2. Steven Warren Smollens

    Contributor Level 20

    5

    Lawyers agree

    Answered . Dear Kingston Auto Lessee:

    Did you have the opportunity to review a sample of the lease before signing the actual lease as required by New York State Law? (Here is a link to the statute: http://codes.lp.findlaw.com/nycode/PEP/9-A)

    If not, then you nay have an argument about a right to cancel, but otherwise the lease will control your rights.

    Good luck.

    The answer provided to you is in the nature of general information. The general proposition being that you should... more
  3. James K. Lyder

    Contributor Level 11

    3

    Lawyers agree

    Answered . For many types of high pressure purchases in NY there is a 3 day statutory right to rescind, but not with auto leases. I would suggest you contact the dealership and/or leasing company and explain that the disposition fee was not brought to your attention and that you want it waived. You may file a complaint with the NYS Attorney General's Office if you reasonably believe this was a deceptive trade practice, although that claim may fail if the disclaimer language in the "no money down" advertising materials mentioned the disposition fee. If it did not, and it was not otherwise brought to your attention, you can use that as leverage with the dealership/leasing company to get the disposition fee waived, at least partially.

Related Topics

Breaking a lease agreement

Breaking a lease is considered a breach of contract, and you may have to pay a penalty to do so, unless the law prohibits penalties for your specific situation.

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