Kessler Topaz Meltzer & Check, LLP Investigates Potential Class Action Claims on Behalf Of Lessees Of Vehicles Manufactured By Ford Or Honda
A typical motor vehicle lease agreement contains two vehicle buyout prices: (1) early termination of the lease agreement; and (2) for purchase at the end of a lease term. The calculation for an “early termination” price is required to be predetermined and disclosed when lease is executed. The lease’s applicable buyout clause for early termination does not contain any restriction on the use of third-party funds, nor is there any prohibition of subsequent assignment of title of the leased vehicle.
Kessler Topaz Meltzer & Check, LLP (“Kessler Topaz”) is investigating whether Ford Motor Company and its affiliates (“Ford”), and Honda Motor Co., Ltd. and its affiliates (“Honda”) deprived lessees of an opportunity to cash in on their leased vehicle’s appreciation. In the current economy, lessees have gained significant equity in their leased vehicles because the value of their vehicles on the open market far exceeds their defined early termination buyout price.
Kessler Topaz is investigating whether Ford or Honda refused to give payoff amounts for early termination of a lease to anyone other than one of their dealerships. Further, Kessler Topaz is investigating whether Ford or Honda failed to honor third-party payoff funds.
If you entered into a lease agreement with Ford or Honda, and would like to learn more about our investigation, please fill out our online form, or contact us today at 888-299-7706 or by email at info@ktmc.com.