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asked about Sell Car

about 2 months ago

I bought my car under lease agreement (not hire purchase) which is very unfavorable to me. Long story short, the sales man never showed my the T&C of the lease agreement. Yes, it's my fault. I signed the paper. Now that I want to sell the car (COE still 6+ years to go), the leasing company told me the car belongs to them and if I wanted to sell the car, they asked me to settle the full amount + PARF value to be paid to them. As illustration, the total they are asking is S$ 20K above the market price of the car today (05 Aug 2020). I ask them why, they said, it's part of the agreement and normal under car leasing agreement. Anyone has any experience how to resolve this matter with the leasing company? Thanks!

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James Poon

Car leasing agreements differ from company to company. If it was written in black and white and you have agreed to it, there is very little you can do. Perhaps you might want to consult a lawyer and get them involved.

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about 2 months ago