DNAinaGoodWay
Well-known member
r9973 said:So, I got an email from the dealer who gave me the deal below... it looks like they put in the residual incorrectly and the revised residual jumps my payment by $40 per month - supposedly they made a mistake in computing the residual. This was for the 48 month lease, current payment is $149 per month and revised would supposedly be $189 per month
The lease was signed, I have been using the car for about 3 weeks now - they are going to play with the numbers and get back to me.
Any thoughts on how to handle this? I am inclined to tell the dealer to eat it or can they force me to return the car?
r9973 said:LeftieBiker said:It's generally best to not have to end a lease early. The dealer is multiplying the payments and saying that owing a year at $159 a month means owing just an extra $1908 if you break the lease after 36 months. That's fine as long as there are no other charges involved. See if you can get that in writing, and keep in mind that it would apply to this one dealer only. BTW, compared to the lease deal I was offered on a 2015 SV with premium, your offer is a bargain. I'm also very curious what the residual would be. I'm guessing they have set it high.
Here are the details.
For 36 months, $0 down with 35 payments @ $222.57 per month - SV + QC
MSRP $35,155
CAP COST - Gross $28,756, Cost Reduction $9,877.43, Adjusted $18,878.57
RESIDUAL - 31% $10,898.05
MONEY FACTOR - .00003
Acquisition fee - $595
Disposition fee - $395
For 48 months, $0 down with 47 payments @ $149.76
MSRP $35,155
CAP COST - Gross $28,756, Cost Reduction $9,950.24, Adjusted $18,805.76
Residual - 35% $12,304.25
Money Factor - .00046
Acquisition Fee - $595
Disposition fee - $395
Both are 12k miles per year with a end of lease buy @ the residual value + $300.
I am also aware that any repairs and / or tire wear, etc. after the 3 years will be my liability as the bumper to bumper will have expired.
Their error. In your favor. Signed lease agreement will hold up in court. Sucks to be them.