Lease Termination Fees and other costs

I did get a call from the Finance Manager yesterday. He said he sent the fax on Saturday (2 days after turn-in), and resent yesterday. I need to call again today to verify. Too much work for the consumer.

And I ended up buying a used 2010 Mazda6s Grand Touring...

#1129 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by kyfdx HOST

Mar 17, 2011 (4:23 am)

Replying to: ddelise (Mar 17, 2011 4:21 am)

It looks like they just started that about a year ago..... I guess the chickens will come home to roost in a couple years, when those first 36 month leases mature...

I don't see how that's going to work, either.... but, maybe they have a plan....lol

Replies to this message:

ddelise (Mar 17, 2011 4:31 am)

#1130 of 1189 Re: GMAC/Ally Lease Turn-in [kyfdx] by ddelise

Mar 17, 2011 (4:31 am)

Replying to: kyfdx (Mar 17, 2011 4:23 am)

Perhaps they are trying to drive more sales through the dealers? How about this scenario: Dealer says - "Hey you can buy the car for $16,000 + $2,500 = $18,500 directly from Ally. Or, I can work a deal with Ally and sell the car to you for only $17,500, including a CPO?"

So, a dubious "win/win" - the dealer gets a sale, and the consumer "saves" $1000!

#1131 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by dwynne

Mar 17, 2011 (4:49 am)

Replying to: ddelise (Mar 17, 2011 4:21 am)

Everyone knows it costs a lot more to attract a customer than it does to retain a good one. Ally missed that lesson and wonders why repeat lease business is so bad...

Folks who finance or own their cars may or may not decide to trade cars. Folks at the lease end can either turn it in or buy it - and most turn it in. So those are 100% for sure in the market for a car. So let us hack these for sure buyers off at the turn in to be sure they don't lease with us again? Not smart, but it appears the "strategy" is working!

Replies to this message:

kyfdx (Mar 17, 2011 2:10 pm)

#1132 of 1189 Re: GMAC/Ally Lease Turn-in [dwynne] by kyfdx HOST

Mar 17, 2011 (2:10 pm)

Replying to: dwynne (Mar 17, 2011 4:49 am)

Maybe they got tired of everyone trying to negotiate their lease buyout amount.... Now, when they call, they'll say, "Sure, if you want, we can knock $2500 off your buyout!". LOL

#1133 of 1189 Buy out charges by british_rover

Mar 31, 2011 (1:48 pm)

Volvo was doing something similar with XC90s for most of last year and the start of this year. They just don't want you to lease the car they want you to buy it.

#1134 of 1189 Mazda Turn-in by lch77

Mar 31, 2011 (2:21 pm)

Replying to: dwynne (Mar 10, 2011 12:40 pm)

Thanks to all who responded to my post (#1113). As it turns out two dealers offered me $400 over my buy-out price plus the $600 taillight replacement to trade my CX-9 in on the car I was interested in buying from them. A third dealer said that while the car is worth a little more than the buyout, Mazda dings non-Mazda dealers $3,000 to do this. Another dealer agreed and I called Mazda (Ford) credit who confirmed this.

Basically, I can buy the car for buyout plus Mazda dealer fees or trade it in on a new Mazda or drop it off and pay for the taillight. I can't even buy the car and then sell it to a dealer because I'd have to pay the sales tax or generate a bunch of paperwork making it not worthwhile.

Bottom line, I cannot take advantage of the $1,000 (new tires and 8,000 miles under allowable) equity unless I trade it in on another Mazda.

#1135 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by ddelise

Apr 01, 2011 (7:23 am)

Replying to: ddelise (Mar 16, 2011 8:50 am)

So, 3 weeks later and the inspection has still not been performed.

The initial delay was due to the dealer not faxing in the paperwork.

The next delay was that after the inspection was scheduled, the car was moved to a different dealership so the inspector did not have access. This occurred on March 23.

After speaking with CS, I was assured the inspection was reset for Friday the 25th. I waited over a week to call back, and nothing has happened. Because I called, CS is now going to look into what is going on. If I did not call, would this inspection just be waiting for eternity???

This is now beyond frustrating and I have a feeling this is not going to end well.

Replies to this message:

jonnyreb (May 02, 2011 11:49 am)

#1136 of 1189 Re: GMAC/Ally Lease Turn-in [ddelise] by jonnyreb

May 02, 2011 (11:49 am)

Replying to: ddelise (Apr 01, 2011 7:23 am)

Ok, here is one to figure out!
Anyone have lease insurance? Through IA Pacific?
I put in a claim in Dec/2010 but was told to have an extra payment in bank in case investigation took longer than a month. In April, they started paying.
I asked about Januarys payment that came out of my account and was told to talk to GMAC to get it back.
GMAC says that because the insurance company is paying my lease monthly (in arrears) that I am not due any money back.
Now I am stuck between two large corporations that say it is the others responsibility to pay.
I have no income now and the $325 would help out a lot.
If you have lease insurance you should find out how it works before it's too late.

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