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Prices Paid: Buying & Leasing Experiences Honda Accord Lease Questions
3629 messages, Last post on Dec 04, 2009 at 9:38 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hey folks. I got a somewhat decent lease deal on a 08 Accord Coupe EX-L 4 cyl (with $1400 of silly dealer accessories that I didn't want). We agreed on a price of $24,800 OTD. The problem was that they kept changing the monthly payments on the car. They started with $3000 down and $340/mth. When we expressed concern this was higher than their competitors for the same car, they gave us excuses about residuals, accessories etc and then lowered it to $322/mth. And then finally someone else came out and said there had been a mistake and the payments were actually $280/mth. So we signed and drove away with our new car - pretty ticked off at the runaround. NOW... they've called me back today to tell me they made a mistake on the lease paperwork and that they put the residual in for a 4 door and not a coupe. And that we need to come back in and make changes to the lease which will increase our payments by $7/mth. What is going on? Do I need to do this?? Why would we willingly go back and increase our payments? Isn't a deal a deal? Just wondering what our options are. Thanks everyone.
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| we got a 2008 honda accord exl 4 cyc. for 0 down no bank fee and it's 370.00 amonth INCLUDING the ny sales tax. don't ever put money down. went to a dealer in brooklyn paragon | |
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Replying to: cowkitty (Aug 08, 2008 2:31 pm) So.. you have some options.. 1) Tell them you won't pay any more, and you are bringing the car back. 2) Sign the new lease agreement for $7/mo. If you choose option #1, they may re-write the lease with the original payment, to get you to keep the car. Of course, this will mean that they have to lower the selling price by $200-$300 to make that work. This is probably what will happen... unless, of course, they screwed up really big, and have already cut the price just to get to the $7/mo. variance.. Either way, it's their mistake, and eating another couple hundred is better than taking back a car with a couple hundred miles on it.. Just make sure you don't take Option #3. Ignoring them. They will re-po the car, if necessary. I'd insist on the same payment, but you will definitely have to sign a new lease. If Honda Finance won't fund the first one, even though it's because of the dealer mistake, you still have to sign for a new one. Just convey to them that you are more than willing to just bring the car back, and they'll probably re-write the lease for the same terms, and take the hit on the difference. Good luck, and let us know how it goes. regards, kyfdx Host-Prices Paid Forums
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Wow! The leases are getting much better! a 4cyl EX-L is the best model to get!
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Replying to: kyfdx (Aug 09, 2008 3:27 am) (The ironic thing was that the morning this all happened, he called me to see how I had enjoyed my car-buying experience and I said I was very disappointed in the run-around in monthly lease payment numbers. FOUR hours later, the finance manager calls to say the payments are increasing again and we need to -re-sign the lease. How awesome!) Anyways, I explained how frustrating this whole number dance was and that I would bring the car back and void the deal. Honestly, the extra $7/mth was negligible - it was the principle. Seriously, would they allow me to change the terms of a signed contract to my favor? LOL. He seemed quite surprised since he didn't know about the additional increase. After he found out what was going on, he called me back to say they would eat the difference and we didn't have to re-sign anything. He was very apologetic. Wow, I am 0 for 4 in car-buying experiences. It's been awful every time. I'm glad I did some research here or it could have been much worse. So for those of you who regularly respond on this forum, day after day to help us all out.. THANK YOU ! |
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Replying to: bvdj84 (Aug 09, 2008 8:27 am) |
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Replying to: kingpcgeek (Aug 09, 2008 2:39 pm) 2008 Honda Accord LX $317 a month 12K miles per year 36month lease 0 due (except for NY motor vehicle fee) How does that sounds? Not too sure since my husband and I were able to lease a 2007 accord that we got last year for much cheaper.. ANy thoughts? Thanks!
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Replying to: orchid1021 (Aug 10, 2008 5:35 am) Where is the Honda dealer located in NY?
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Replying to: jcastaldo (Aug 10, 2008 6:34 am) |
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Replying to: orchid1021 (Aug 10, 2008 5:35 am) You need: Publicly Available Items MSRP Invoice Price Current Manufacturer Residual Current Manufacturer Lease Factor Items particular to your deal Selling price (in these car buying times you should be around invoice on most cars) Lease factor dealer is quoting you (dealers can mark this up) Dealer doc fees Local sales tax, and whether you pay up front or every month. Out of pocket money up front. |
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