Leasing Agreement - Car Dealership - CarCap Leasing

I bought a car September 2009 from a used car dealership. The cost of the car was $5,771.00. I wanted to pay for the car cash, but I didn’t have enough. I put down $2,500 and he referred me to a finance company called CarCap Leasing. I asked if it was a leasing company, he said yes, but they also do financing. He arranged everything for me. I went to CarCap and gave them $1,970 towards the payment of my car as I wanted to pay if off fast. In my excitement to purchase my first car, I signed the agreement boldly and blindly without reading it. Turns out I signed a leasing agreement, not a financing agreement. I’ve been making payments to them since September, and when I called this week to ask if I was almost done paying off the car, they told me I still have $7,833 left to pay!! This cost included their estimated cost on the car, which was $6,000 more than what the dealer was selling it for, plus 24.95% interest. Is there anyway I can get out the leasing agreement? I want to own my car and I can’t fathom paying CarCap double what the dealer was selling me the car for.

[AFFA]

I wish to inform you that generally the agreement between the parties are binding between them. In this when a party has put the signature on the agreement it is assumed that a person knows the content of the agreement and is signing after reading the agreement. Now if you want put the contract to an end then you can give notification for termination of the agreement and can pay the required damages and bring the contract to an end. However if you wish to contest then you can argue in court that you have signed the contract on the basis of the information provided by the other party. You have relied on the other party while signing the agreement and you were misinformed and therefore the agreement was entered by you on the basis of the false information by the other party and hence you should be paid compensation for your loss.

AFF

I also signed a lease agreement by boing tricked by carcap, amj.they told me I was signing a finance agrement. I borrowed 15000.00 on a 27000.00 dollar car they explained that it was a open loan so any extra payment goes to the principal so I put 9450.00 extra in 22 month. Thinking I owe 3600.00 more they say I owe 7200.00 I show them how they're wrong with the amortization table they gave me that indicates a finance loan hence all of the 566.00 a month payment goes towards interest and principal. Only to have them say o no that's wrong beacuse they're amortization table is completly different and works like a lease 25.08 in gst and 40.12 in pst every month.. The fact that I have that amortization table from them should prove they scamed me and also this "lease" is also a purchase agrement. I have heard that you are not allowed by law interwine a purchace agrement with a lease

[Arguendo]

I hate to say so, but most likely you are stuck here. The law -- especially after the passage of time -- really "frowns upon" breaking any type of contract. You could certainly have a WLD lawyer take a look at it, which I doubt would cost terribly much, and would be worthwhile to see if any consumer protection might be available. I hope it works out and that you prove me wrong!

This is to those out there who have been a victim of Carcap misrepresentation agreement.


This company got me into a leasing agreement eve thought I was explained that it's a financing agreement. I am sure, most likely, this happened to most of you.

Please Email me, as I have made a claim against them and even thought they are bankrupt, I still believe we have to take this to the court and protect our interest.
the more the claims, the better chance of fair judgement. please don't give up on this.


Lilly.2010@hotmail.com.uk

[Wolfer]

I can't believe how typical this query is.

Makes me wonder if there are any qualified car dealers!
In any occasion, tell them to chew stones if you want to.
They are the big weapons and had complete management over the agreement. If they can't determine how to create it, then it's their challenging luck!

[Mery21]

Originally Posted by Unregistered This is to those out there who have been a victim of Carcap misrepresentation agreement. This company got me into a leasing agreement eve thought I was explained that it's a financing agreement. I am sure, most likely, this happened to most of you. Please Email me, as I have made a claim against them and even thought they are bankrupt, I still believe we have to take this to the court and protect our interest. the more the claims, the better chance of fair judgement. please don't give up on this. Lilly.2010@hotmail.com.uk

Hi,

I sent you an email just requesting more info on the claim. I too have a case against Carcap.

Thanks,