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Xchange trying to hose you out of lease:

mghtyred

Well-Known Member
Just got this email. DO NOT DO THIS!!! They are trying to shake everyone out so they don't have to settle later when they close down operations:



Return your vehicle and get a $450 electronic Visa gift card
You have the following option.



Return the car, get a $450 electronic Visa gift card



For a limited time, receive a $450 electronic Visa gift card if you return the vehicle and keys by Monday, 10/09 at 5pm. When you hand us the keys you'll get a $450 electronic Visa gift card in exchange. We'll also provide you with a free Uber ride home up to 50 miles from the drop-off location.

You must execute a release form in order to receive the gift card. A copy of this document will be provided to you for review and execution upon return of vehicle.
Eligible Drop Off Locations:


Xchange Leasing Showroom
11227 S Prairie Ave
Inglewood, CA 90304

Mon-Fri 10am-6pm
Closed Sat & Sun
Xchange Leasing Showroom
6829 Lankershim Blvd
North Hollywood, CA 91605

Mon-Fri 10am-6pm
Closed Sat & Sun


Only recipients of this email from Xchange Leasing are eligible for the $450 electronic Visa gift card reward. If you have already returned your vehicle prior to receiving this offer, you are not eligible for the $450 electronic Visa gift card reward.

To be eligible for the $450 electronic Visa gift card reward, the vehicle needs to be returned in good operating condition (not a total loss) and without excessive wear and tear.


_______________________________________________________


Seriously. Even if you are DESPERATE for quick cash, do not do this. You WILL get a better offer down the line. This is only the beginning.
 

Booger644

New Member
I received this offer, too.
Is the long game to break ALL leases and get the cars back?
I knew the division was shutting down yet, I thought they had to honor the contract...
 

WWF

Active Member
the only people that got this email were ones who are behind in their payments

i always stayed no later than 21 days behind but just once at 28 days

28 days is the max that you ever want to go, but just to be safe i was never more than 21 days behind

Due to the recent xchange leasing email that i got stating that no leases will be offered after october 6th, it made me think that i better start being on time with my account. Not 28 days behind, not 21, not 14, not even 7 days late because i'm afraid that there might be a clause in the lease that the car can be repossessed after just 1 day being late so now i definitely want to play it safe.

By the way i happened to go to the xchange lease website to see if they are actually really still offering anything before october 6th and it doesn't look like it. Seems that the xchange lease program will be replaced by an uber car renting program of their own, so i would imagine they want to repossess in order to have more cars for the "new" uber leasing program.

As of right now i think uber only has partners like hertz that you can rent a car from but my guess is that the xchange lease cars will not be used for a direct uber car renting program instead of having to go through hertz, but who knows.
 

Travis -k

Well-Known Member
the only people that got this email were ones who are behind in their payments

i always stayed no later than 21 days behind but just once at 28 days

28 days is the max that you ever want to go, but just to be safe i was never more than 21 days behind

Due to the recent xchange leasing email that i got stating that no leases will be offered after october 6th, it made me think that i better start being on time with my account. Not 28 days behind, not 21, not 14, not even 7 days late because i'm afraid that there might be a clause in the lease that the car can be repossessed after just 1 day being late so now i definitely want to play it safe.

By the way i happened to go to the xchange lease website to see if they are actually really still offering anything before october 6th and it doesn't look like it. Seems that the xchange lease program will be replaced by an uber car renting program of their own, so i would imagine they want to repossess in order to have more cars for the "new" uber leasing program.

As of right now i think uber only has partners like hertz that you can rent a car from but my guess is that the xchange lease cars will not be used for a direct uber car renting program instead of having to go through hertz, but who knows.
Carful with your 21 days late, they don't send the repo guys because it is not cost effective under normal leases, however they want these cars back so the can liquidate them and finish the close down, I would bet they will be sending the hounds after ten days to collect their vehicles at this point.
 

Booger644

New Member
the only people that got this email were ones who are behind in their payments

i always stayed no later than 21 days behind but just once at 28 days

28 days is the max that you ever want to go, but just to be safe i was never more than 21 days behind

Due to the recent xchange leasing email that i got stating that no leases will be offered after october 6th, it made me think that i better start being on time with my account. Not 28 days behind, not 21, not 14, not even 7 days late because i'm afraid that there might be a clause in the lease that the car can be repossessed after just 1 day being late so now i definitely want to play it safe.

By the way i happened to go to the xchange lease website to see if they are actually really still offering anything before october 6th and it doesn't look like it. Seems that the xchange lease program will be replaced by an uber car renting program of their own, so i would imagine they want to repossess in order to have more cars for the "new" uber leasing program.

As of right now i think uber only has partners like hertz that you can rent a car from but my guess is that the xchange lease cars will not be used for a direct uber car renting program instead of having to go through hertz, but who knows.
actually paid ahead a week
 

UbingInLA

Well-Known Member
I wonder if these cars will eventually end up for sale to unsuspecting buyers like the Post hurricane Katrina damaged vehicles did?

I'm sure Uber will try to swindle unsuspecting folks into buying them eventually.
 
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Travis -k

Well-Known Member
I wonder if these cars will eventually end up for sale to unsuspecting buyers like the Post hurricane Katrina damaged vehicles did... I'm sure Uber will try to swindle people into buying them eventually.
Dealers have to disclose they they were used for a transportation company, in california atleast.

They will go to the same buyers that buy all the rental cars
 

UbingInLA

Well-Known Member
Dealers have to disclose they they were used for a transportation company, in california atleast. They will go to the same buyers that buy all the rental cars
I know you're talking about (honest) dealers. But Uber has shown us that they'll exploit any loophole, until sued.

I've sold three cars that I drove into the ground Ubering, and I didn't need to disclose a thing. Two were actually traded in to a dealer, no questions asked - tinted windows and all.

All Uber cars (Xchange or privately owned) will eventually be need to be marked... like the lepers they are.
 
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TurnUpT

Well-Known Member
the only people that got this email were ones who are behind in their payments

i always stayed no later than 21 days behind but just once at 28 days

28 days is the max that you ever want to go, but just to be safe i was never more than 21 days behind

Due to the recent xchange leasing email that i got stating that no leases will be offered after october 6th, it made me think that i better start being on time with my account. Not 28 days behind, not 21, not 14, not even 7 days late because i'm afraid that there might be a clause in the lease that the car can be repossessed after just 1 day being late so now i definitely want to play it safe.

By the way i happened to go to the xchange lease website to see if they are actually really still offering anything before october 6th and it doesn't look like it. Seems that the xchange lease program will be replaced by an uber car renting program of their own, so i would imagine they want to repossess in order to have more cars for the "new" uber leasing program.

As of right now i think uber only has partners like hertz that you can rent a car from but my guess is that the xchange lease cars will not be used for a direct uber car renting program instead of having to go through hertz, but who knows.
It doesn't have to due with being late. I just got a car from them on Monday and received that offer email today. lol.
 

Booger644

New Member
funny at the time that you posted your message, 11.36am pacific, well i got the email from xchange leasing about returning my car at exactly 11.36am

how ironic
No biggie.
I just want to make sure the contract is honored.
I have paid in 2 years while clearing up credit and have in writing that I could keep the car at the end of the lease - if I chose to, with some kind of final payment...tbd...
I don't drive often as I did the first year so the car is in good condition...

Called XChange CS - they dont know anything yet...this is an Uber move...
Said that the $450 to return the car was an "option" to appease people angry about XChange closing down - which makes no sense seeing that she said the lease contract will be honored. Who would be angry about that? The only thing I can think of is that newer contracts have a clause to repossess at will yet, that is me thinking out loud, not a legally binding contract.

In January I took the time to go to Hollywood Toyota to get a copy of the lease contract so I could have it for my records.
I will be going over it today to read the fine print.
 

mghtyred

Well-Known Member
  • Thread Starter Thread Starter
  • #16
I received this offer, too.
Is the long game to break ALL leases and get the cars back?
I knew the division was shutting down yet, I thought they had to honor the contract...
Yes, they want to break ALL the leases. Because if they don't they are bound to honor them, including the purchase clause at the end of the lease. They want you to sign away your equity for $450. Don't do it.

And WWF you're wrong. My payments are up to date, and I've missed only ONE payment in my entire history of the lease. It was autopaid the very next week. These emails went out to ALL Xchange lease holders.

Anyone who takes this offer is a fool. Remember that lease is a legally binding contract. They must honor it unless you agree to break it. Don't be stupid. Hold onto it.
 

mghtyred

Well-Known Member
  • Thread Starter Thread Starter
  • #18
Equity? LOL

IF it has any equity at the end of 36months....

My contract says residual value $8000..... worth less than that in 18 months....
You got a raw deal. Mine is better.

I'm not a lawyer, but isn't this illegal? Aren't they breaking the conract in doing this?
As long as both parties agree to it, and you sign the release they are demanding you sign to get your $450 visa gift card, then no law is broken.
 

joetheuberdriver

Well-Known Member
Just got this email. DO NOT DO THIS!!! They are trying to shake everyone out so they don't have to settle later when they close down operations:



Return your vehicle and get a $450 electronic Visa gift card
You have the following option.



Return the car, get a $450 electronic Visa gift card



For a limited time, receive a $450 electronic Visa gift card if you return the vehicle and keys by Monday, 10/09 at 5pm. When you hand us the keys you'll get a $450 electronic Visa gift card in exchange. We'll also provide you with a free Uber ride home up to 50 miles from the drop-off location.

You must execute a release form in order to receive the gift card. A copy of this document will be provided to you for review and execution upon return of vehicle.
Eligible Drop Off Locations:


Xchange Leasing Showroom
11227 S Prairie Ave
Inglewood, CA 90304

Mon-Fri 10am-6pm
Closed Sat & Sun
Xchange Leasing Showroom
6829 Lankershim Blvd
North Hollywood, CA 91605

Mon-Fri 10am-6pm
Closed Sat & Sun


Only recipients of this email from Xchange Leasing are eligible for the $450 electronic Visa gift card reward. If you have already returned your vehicle prior to receiving this offer, you are not eligible for the $450 electronic Visa gift card reward.

To be eligible for the $450 electronic Visa gift card reward, the vehicle needs to be returned in good operating condition (not a total loss) and without excessive wear and tear.


_______________________________________________________


Seriously. Even if you are DESPERATE for quick cash, do not do this. You WILL get a better offer down the line. This is only the beginning.
Wish all the xchange and rental antz due out. Then we talk with uber on equal terms.
 

theclowns

Member
Got the email this morning and started laughing. They are trying to get as many cars back as they can get. It will be interesting to see what they try to bring in the next few months. I've got mine for 1 more year and will try to put as many miles on it as I can.
 
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