Automobile

Closing This Car Lease Loophole Screws the Lessee | MotorBiscuit

Until now a person with a car lease ending could shop around for a higher buyout from any dealer. This occurs when the leased car has an unexpected higher resale value, like right now with used car prices exploding. But now, car companies one-by-one, are closing this loophole.

Now, lessees must return their leased vehicles to the car brand’s local dealer

Signing the lease papers for a new car | Angus Mordant/Bloomberg via Getty Images

Acura and Honda have joined many other automakers who have recently changed the terms of leases. Now they are requiring lessees to return their cars to the dealership they received them from. Both GM and Ford have also begun to notify lessees about the new policy.

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