refuse to provide equipment lease buyout info

[dennfen]

Jurisdiction

Ohio

I work for an office machine dealer in Ohio. Occasionally I will find a business that is not happy with the equipment they have leased, or they are not satisfied with the servicing dealer, and want to replace it. There is one lease company in particular that when the lessee calls to get a payoff amount wont provide it. They only agree to let the dealer the equipment was leased through know that you have called requesting the lease buyout amount. They literally refuse to give the lessee the information. I understand the lease company wanting to maintain their relationship with dealers that place leases with them but can the lease company legally withhold financial information from the lessee? And can they legally share the fact that you called requesting financial information on your lease with i would think is a third party (machine dealer).

 

[Zigner]

I work for an office machine dealer in Ohio. Occasionally I will find a business that is not happy with the equipment they have leased, or they are not satisfied with the servicing dealer, and want to replace it. There is one lease company in particular that when the lessee calls to get a payoff amount wont provide it. They only agree to let the dealer the equipment was leased through know that you have called requesting the lease buyout amount. They literally refuse to give the lessee the information. I understand the lease company wanting to maintain their relationship with dealers that place leases with them but can the lease company legally withhold financial information from the lessee? And can they legally share the fact that you called requesting financial information on your lease with i would think is a third party (machine dealer).

Read the lease.

 

[zddoodah]

There is one lease company in particular that when the lessee calls to get a payoff amount wont provide it.

I assume you're saying that your company acts as an agent for this "lease company." Correct?

can the lease company legally withhold financial information from the lessee?

This is entirely a matter of contract, so you'd have to tell us what the lease says. Presumably, if it's a lease to own situation, the lessee can do the math itself, right?

And can they legally share the fact that you called requesting financial information on your lease with i would think is a third party (machine dealer).

Assuming your intent was to ask if it is legal to do it, I cannot conceive why you'd think it wouldn't be. Certainly there's no law in any state prohibiting something like that.