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Have you ever used the “SmartLease” automotive lease program from Ally Financial and tried to buy your car back at the end of that lease, only to suddenly realize you’ve been hit with excessive fees you never saw coming?
If that’s the case, you are definitely not alone. But the good news is that now you can finally do something to fight back.
Consumers all across the country – hundreds of thousands of them – participate in the SmartLease program. It’s so successful it has generated billions of dollars for Ally over the years.
Your lease agreement stated that you would have the option of purchasing the vehicle at the end of the lease for a set amount of money. Sure, there would be some fees involved, such as license, inspection, title and registration fees, but those are spelled out in the contract.
For a lot of people who wanted to buy their vehicles, however, there was an extremely unwelcome surprise. Customers are alleging that Ally added substantial hidden fees, often well in excess of $1,000. They say they were told they had to buy the vehicle through a dealer and pay additional charges such as dealer and “document preparation” fees.
This alleged practice is a clear violation of the Federal Consumer Leasing Act. As a result, you may be eligible to take legal action if you have been overcharged.