HELP!! Lease early termination
I leased a 2024 Lyriq for 24 months. However, I used up the mileage by 21 months. I called the dealership asking if I could just return the vehicle earlier but still pay whatever I still owe on the lease. And they said yes, I can return at any time. They said GM would just send me a bill for whatever I owe for the lease balance + the disposition fees + any damages.
So I scheduled an inspection and got everything done. I went to the dealership and returned the car and was waiting for GM to send me a bill of lump sum amount I owe.
Fast forward to today, I receive a notice in the mail that I have chosen to do an early termination of the lease and that there is a gross early termination total on the car, let's call it $XXX which is nothing but the residual that was on the lease agreement + the remaining months of lease payments + disposition fees. And that I would end up owing whatever is the difference between $XXX and whatever they could sell the vehicle for.
There is simply no way the car will sell for anywhere close to $XXX. The residuals were very inflated at the time I leased it. Am I screwed? If this is the case I will end up owing 10s of thousands. I never intended to early terminate the lease. I could've just kept the car and let it sit for 3 months if I had known this. I just went by what the dealership told me.