U S Bank -- Auto Lease - U S Bank Engages in Gouging and Profiteering at End of Lease
I leased a vehicle using you S Bank, which offered a lower monthly payment than Ford Credit. My wife and I have leased 7 vehicles previously through Ford Credit. Easy return, no charges.
US Bank sent an inspector, who flyspecked the vehicle. He found minor scratches on the rear rims. Charge per rim is $375. The assertion is that this wear and tear is excessive. Hard to fathom. He told me to call US Bank to discuss.
US Bank says scratches on the rim is excessive, in its opinion, as that is what the inspector determined. I asked about the dollar amount. US Bank tells me that this is the cost of new rims. I ask if I can have the existing rims, if I pay them the total of $750. US Bank says no, as US Bank has not made any decision as to what it will do, and may not replace or even repair the rims. I then find out that US Bank will have an auto auctioneer pick up the car and take it straight to an auction house. These scratches were so minor that it would have no impact on the overall value of the car.
Needless to say, I had the repairs done to the rims, at a significantly lower cost.
US Bank also tells me that I must keep the car insured until US Bank picks it from the dealer. I ask why. US Bank says dealer is not US Bank. I then ask where I can deliver the vehicle directly to US Bank. Response: I can not. Why do I need to insure a vehicle when I no longer have the right to possess it? For that matter, why does US Bank think that the insurance coverage is legit when I have no right of possession -- it is not mine and the lease is expiring. Tough beans.
I asked to speak with the manager. Sorry, only got her voice mail. I leave a message. No return call.
US Bank engages in unfair profiteering. Steer clear of this one. The minor per month saving on the lease payment will not cover the gouging at the end of the lease.