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Lease Termination Fees and other costs

1189 messages,  Last post on Apr 19, 2013 at 4:18 AM

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Messages Page 116 of 120

#1147 of 1189 Re: dealership mess [rx2man] by delta737h

Jul 17, 2011 (2:26 am)

Replying to: rx2man (Jul 16, 2011 8:52 pm)
In your original post, you said...
 
"I said thats' still not right and he this time writes over the top of the stack in pen and makes the change, all copies reflect the 14419 and I initialled the change."
 
I have no idea what "writes over the top of the stack" means. The bottom line is this...
 
Was this penned change written on the lease agreement or was it written on some dealer internal document? If it was some internal document, then Ally will never see the penned change. So, you go merrily along until lease end when, to your surprise, you discover that the buyout is $16,919 and nothing was ever changed. The paper you're holding with the penned change could be meaningless and unenforceable in a court of law.
 
I can't believe a dealer would amend a contract by using a pen to cross out a number and, then, inking a different number. If I were the fund provider (Ally), I would send it right back to the dealer. They should know better which leads me to think that they inked the change on some meaningless document.
 
If they made the change on the lease contract, then, in all probabilty, they'll have to eat the $2,500. I don't know how much trade credit they gave you, if any, but they may have enough profit in the deal to eat the entire $2,500. DO NOT let them negotiate the $2,500 by agreeing to some split. That's out of the question and, as far as I'm concerned, it's non-negotiable as it's a done deal. If they made a mistake, it's on them.
 
I don't blame people for being stupid, but I do ask them to pay for their stupidity (mistakes). I'm not about to be victimized because of their stupidity.
 
John
The AutoLeaseGeek

#1148 of 1189 Re: dealership mess [delta737h] by rx2man

Jul 17, 2011 (5:11 am)

Replying to: delta737h (Jul 17, 2011 2:26 am)
I have no idea what "writes over the top of the stack" means. The bottom line is this
 
sorry yes the lease contract, about 4-5 pages, you write on the top one it goes through all copies. they made a change on the contract. It sounds crazy but thats what happened. I have no idea if they made much on the trade. A 08 Sonata base 4 cyl auto in good shape no issue with 81k. So a lot of miles. We owed $7700 on it paperwork shows $9150 trade in which is high KBB trade in. But $9150 is just a number if the cost of the vehicle is higher as well. So I dont know what their margin is but I really dont think its $2500, they were trying to make this go through. Thanks again for your time.

#1149 of 1189 Re: dealership mess [rx2man] by dwynne

Jul 20, 2011 (8:48 am)

Replying to: rx2man (Jul 17, 2011 5:11 am)
Keep in mind, you said:
 
"Last night I leased a wrangler, I was told my residual would be 14419, seemed fair enough to me. Went to finance and noticed the 14419 was 16919 in the Purchase option section at the bottom."
 
So your lease payment is correctly based on the residual you think is fair. The only problem is that the lease bank charges this silly-high buyout fee on top of the residual. Check your lease contract and see what the turn in fee is, it could be a rip of as well. The bank will not fund the lease if the numbers are not correct and the dealer can't change the residual or buy out fee or price. So unless they didn't change the copy they sent to the bank it is coming back. At hat point you should just unwind the deal - if you plan on buying the vehicle at lease end - and leasing from another bank or dealership. You can also check online at leasecompare.com to see what rates / payments they have.
 
Most every dealer will make you sign a form that says if the financing does not go through you have to bring it back. This lets them do business nights and weekends when they can't get approval for every deal before handing over he keys. Some have a per day and / or per mile charge on this form. If you signed one of these, then you have to pay them to take back the car -the amount based on days and miles you kept it,
 
Lease then purchase CAN make sense and I have done it before myself, but only when I had a super low factory backed lease rate. This lease deal is probably not at a promo rate so probably does not make any sense to lease then buy if you want to own the vehicle just get a loan and buy it now. You can run the numbers and see how much money you are tossing away on the lease / purchase but I would guess it is a large amount.

#1150 of 1189 Re: dealership mess [dwynne] by rx2man

Jul 21, 2011 (8:04 am)

Replying to: dwynne (Jul 20, 2011 8:48 am)
I ran the numbers both ways and its a wash in the end within a few hundred IF I did the numbers right and I think I did. IT got me a payment my wife is happy with now so thats what counts at this time. I talked with a dealer on a jeep forum, he does not think it was intentional and they have a new computer system at dealers that is causing problems. I dont know why they say they were not familiar with the Ally leasing program. The other dealer said it should all work out in the end and to just wait for them to contact me.

#1151 of 1189 Re: dealership mess [rx2man] by rx2man

Jul 31, 2011 (3:54 pm)

Replying to: rx2man (Jul 21, 2011 8:04 am)
For anyone who is curous as to how this turned out. The dealer called last Tues, the GM said all their Ally leases were messed up and I would have new paperwork to sign. Today I got the new paperwork. This time with Bank of America. Same numbers as before and BOA does not have $2500 buy out at the end. So I am happy it all worked out.

#1152 of 1189 Audi A3 Lease by pwong8

Aug 04, 2011 (10:56 am)

I am halfway through my lease right now for a 2010 Audi A3 and I need tires pretty soon. Does anybody know if Audi will charge me if I return the car with tires of a different brand? I find the stock tires too noisy and planning to opt for a "quieter" set.

#1153 of 1189 Re: Audi A3 Lease [pwong8] by qbrozen

Aug 04, 2011 (11:16 am)

Replying to: pwong8 (Aug 04, 2011 10:56 am)
Look on your contract and see what the requirements are. The only car I ever had to worry about tires on was our Chrysler and the terms merely said the tires had to have at least 4/10" tread depth. No mention of brand.

#1154 of 1189 Re: Audi A3 Lease [qbrozen] by Kirstie@Edmunds HOST

Aug 04, 2011 (11:25 am)

Replying to: qbrozen (Aug 04, 2011 11:16 am)
Agree w/qbrozen on checking the contract, though I can't imagine why they'd be upset at you returning the vehicle with nicer, newer tires on it, as long as they were the right size.
 
If it's a problem per the contract, you can always keep the old tires and have them put back on right before the lease ends.

#1155 of 1189 Re: Audi A3 Lease [kirstie_h] by dwynne

Aug 04, 2011 (1:56 pm)

Replying to: Kirstie@Edmunds (Aug 04, 2011 11:25 am)
Only an option if the OEM set has 4/32" or more tread left.
 
I would check the lease contract, I am sure there is something about the tread depth and they have to match. If the car has a full size spare all 5 may have to match. The speed and load ratings have to meet or exceed the OEM tires as well. They could limit you to just OEM tires (there could be several) as well. To CPO a car they have to have lots of tread and be OEM tires, so dealers do not like to see turn ins with non-standard tires.

#1156 of 1189 Re: Audi A3 Lease [qbrozen] by im_brentwood

Aug 04, 2011 (2:14 pm)

Replying to: qbrozen (Aug 04, 2011 11:16 am)
As long as they match and are the right size and speed rating you should be fine.
 
Just make sure they're name brand... get some Chinese no names and you might get hit.

Messages Page 116 of 120

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