Jaclyn Allen is a Denver7 Weekend Anchor and Contact7 Reporter.
DENVER — Some Colorado auto dealerships are charging hundreds of dollars in fees to people who want to buy out their car leases. But are these fees legal?"The used car market is pretty hot, so cars are holding their values. It was pretty apparent at the end of my lease that I had quite a bit of equity," said Taylor, who said the lease contract clearly spells out the costs of buying out the lease.
Maybe not, according to Colorado Attorney General Phil Weiser, who said undisclosed lease fees are illegal. The Colorado Auto Dealers Association said dealers should not be charging D&H fees on lease buyouts, but there may be exceptions, such as in Taylor's case. "We're a uniform consumer credit code state, which says if you're looking at a new transaction if it is cash or credit, you must charge D&H on all transactions uniformly,' said Groves."We do need some guidance on how we should treat those transactions."
Humza Ahmad, a spokesperson for Mercedes-Benz Financial Services, the company that financed Taylor's leas, sent a statement indicating the policy for Mercedes-Benz dealerships is clear that no additional fees should be charged regardless of which dealership handles the lease buyout:
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