Any Dealer Finace People Here?

[Waffen6]

Very odd question, wife and I leased a new gladiator from out of state. Looking over the paperwork the numbers with our down payment dont make sense to me. Dealer said its fine that the numbers are hard to make out on the papers and it makes sense on their screen.. if anyone here would be willing to look our agreement over and see if its right Id appreciate it.

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[Advntrbound]

I would stand up and walk out the door.

 

[terpsmandan]

PM'd you

 

[terpsmandan]

I would stand up and walk out the door.

Can you explain a lease contract?

 

[Advntrbound]

I

Can you explain a lease contract?

I have never leased a vehicle so no. But if the finance guy just says "trust me" my screen is good but the contract you're about to sign is different, then he can pound sand.

 

[Rahkmalla]

not a dealer finance person, only sold, but I am very familiar with lease contracts.

Never sign anything that doesn't agree with what you shook hands on.

That being said, if your "cap cost reduction" on your contract doesn't match your actual cash-out-of-pocket, that's not that big a deal. Some states are upfront tax states on leases, whereas others allow taxes to be paid as the lease payments are made (it's a technical distinction because upfront tax doesn't mean you have to put the taxes, or any amount down, you can 0 OOP in an upfront tax state, but in such an instance you might show a negative cap cost reduction to offset your $0 OOP). Also acquisition cost is usually flagged separate from cap cost reduction. So if you're not in an upfront tax state, and you have a 695 acq cost and you put 1500 down, it would only show 805 cap cost reduction.

Lease contracts aren't nearly as easy to understand as buy contracts... and that's on purpose. Back when I sold it was well known to salespeople that new cars cash or finance were flats. If you wanted to make money, you either had to dupe someone on a lease, hook their trade, or switch them into a used car.

 

[terpsmandan]

I

I have never leased a vehicle so no. But if the finance guy just says "trust me" my screen is good but the contract you're about to sign is different, then he can pound sand.

Then how can you chime in except to start a fire. OP is just asking a question about an out of state lease. That is all.

 

[Advntrbound]

Then how can you chime in except to start a fire. OP is just asking a question about an out of state lease. That is all.

It's easy. NEVER sign a contract that you don't understand. If the finance guy says "trust me" and you do, then you're a fool. What the finance guy should have done is explained to the buyer what the contract he is signing actually says. But since you're ok trusting people, send me a pic of the front and back of your credit card and zip code. Trust me!

 

[Waffen6]

Sorry everyone this was a unique situation. None of the dealers close to me had exactly what we wanted nor willing to deal. Found a dealer a couple hours away that had what we wanted and they offered to deliver it to us (with my wife and I's work schedule, kids in sports, ect this was perfect for us). Downside I had no finance guy to go over paperwork just a delivery driver who didnt have a clue. The agreed upon price and payment was fine, I was questioning an extra charge for the first months payment (yes I know this is due and have to pay it) but it looked like they took it out of my downpayment and charged me for it twice.

 

[RangersGladiator]

We just turned in a BMW lease. You might have paid the first and last payment. We had a 36 month lease but only 35 payments. Hope you figure it out.

 

[Rahkmalla]

Sorry everyone this was a unique situation. None of the dealers close to me had exactly what we wanted nor willing to deal. Found a dealer a couple hours away that had what we wanted and they offered to deliver it to us (with my wife and I's work schedule, kids in sports, ect this was perfect for us). Downside I had no finance guy to go over paperwork just a delivery driver who didnt have a clue. The agreed upon price and payment was fine, I was questioning an extra charge for the first months payment (yes I know this is due and have to pay it) but it looked like they took it out of my downpayment and charged me for it twice.

If the total OOP and monthly are what you agreed on, there's not much left to question, unless you were willing to walk away from the truck if you learned they made some money on you at the price you thought you liked.

FYI, some states that have "zero right of recision" actually bend those rules if the paperwork is completed in a location other than the dealership.

 

[DBravo]

I

I have never leased a vehicle so no. But if the finance guy just says "trust me" my screen is good but the contract you're about to sign is different, then he can pound sand.

-married to an attorney, it takes a long time to sign anything...

 

[Waffen6]

Update: dealer called back today, admitted they double charged my 1st month payment and refunded me.

 

[Guntar]

Thats a good business. People should know who it is so they can help out that business.

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