Asked in Contracts and Banking for Florida

Q: Can car companies add a “market value increase” charge on my car buyout that is not in my original lease contract?

I recently went to my dealership to purchase my car and pay the rest of the lease off. The object was to not have a car payment any more. My husband and I estimated my total buyout and everything to be around 15,000 since my residual value is 11,000 and I still owe 2000 in lease payments plus tax, title and the buyout fee they put in the contract for 650. However, the general manager of Hyundai presented us with a quote for 21,000 due to my car being worth more money now. The new fee was written as a “market value increase” of $5,000-6,000. That is not mentioned in my contract written 4 years ago.

Related Topics:
1 Lawyer Answer
Bruce Alexander Minnick
Bruce Alexander Minnick
  • Business Law Lawyer
  • Tallahassee, FL
  • Licensed in Florida

A: Generally, if any important change is made to a contract without being part of the original contract, the change cannot be made.

However, without being able to read every page of your original contract plus read any other attachment addendums, or similar changes it is impossible to answer this question.

I will say that just because you cannot find any mention of "market value increase" in your contract does NOT mean there is no other language that could encompass the meaning of the dealer's choice of words.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.