buyout after 8 months of expiration of lease

[rana8689]

What is the name of your state? New York

I had leased some equipments for 3 years which got over in August 2004. I was not aware of the end and neither did I receive notice from the leasing company. I realised this in November 2004 and it took 2 months getting shipping address to return the equipment. Finally the leasing company said that the items did not match the original leased item. I called them to have a buyout quote. The quote amount is reasonable, but they are charging me for 3 quarters leasing rent.
My question is am I entitled to pay for the rent after the expiration if I go for buyout plan. How can I handle this?
Thanks in advance.

 

[shortbus]

Until you bought the property, you were still leasing it. So you owe them for the time you held it over. Your decision to buy does not retrospectively erase your lease obiligation.