Q: American First Finance, refusal to terminate lease agreement even if I return cell phone?
Leased note 9, june 2019. Was 928.00, plus I put 50.00 down. Here it is 5 months later, and when I try to explain I lost my job, and want to return cell, they refuse by saying if the store accepts it back get a letter stating it, but they know the stores will not take the cell back. I have 724.00 in equity, they claim still owe 630.00
A: 1. Forget about how much it cost new; not relevant.
2. The store that sold you the note 9 did not loan you any money;
3. all they did was approve you for credit and then sold the note to American First Finance;
4. they are trying to collect the money and do not want the phone.
5. Have you considered paying it off then selling the phone, to recover some of your loss?
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