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Nissan Quest, Car Leasing, Van
#19 of 68 Lease contract help.
Mar 01, 2007 (6:12 am)
Sorry this is so long. My husband and I went to purchase a 2007 Nissan Quest. Signed a leasing order for motor vehicle. The dealership didn't have what I wanted in stock so they quoted me a vehicle that they ran a search on. The form just has name and address, ss#, vin (which was left blank) and delivery date of 02/28/07, and a breakdown of the lease payments. The next morning after signing the dealership called and said the vehicle they got was a demo and has 4800 miles on it. We told them we are not interested, we signed a lease for a new vehicle not a demo. They said they would start searching for another vehicle to make it right and call back in the afternoon they didn't call back so we called. We had to keep calling to see what was going on, then they were rude about it. So I called and followed up on internet quotes from some other dealerships and they could offer an SE instead of SL same options for 6,000 dollars less. We told them we wanted our money back and the manager told us that is financial dept is closed if he want our money back we can come in "tomorrow" (which is today) between 8:30 and 5:00 for a refund to our credit card. He called the dealerships that I had the least of the two amounts from and trying to obtain the vehicle. He told me he got the vehicle from one of the dealers and i could pick it up "tomorrow" He still wanted the price that we had negotiated previously on the other car. We told him we could get that same vehicle for much less why couldn't he do the same then he gave us a bs answer about service. We put 3800 down. Well he said he would talk to his GM to see if he could match the price of the other vehicle and call back in "ten minutes" With it being the last day of the month this would of been the last day to take advantage of the incentives from Nissan. After an hour the other dealer that had one of the two vehicles called and told me that the dealership called him and try to get the vehicle. He thought to either get it for me or try to keep me from getting it from them. He advised to me that since there was no vin number he didn't have a leg to stand on and to call the credit card companies explain the situation and put a stop on the down payment. The other dealership started the transaction on good faith that we would come in over the weekend since they where closing in half an hour. Then after 8:30pm (They closed at 8:00)the dealership we signed the lease order form with called and said they would match the others price. Of course after they already closed. My husband told him "forget it", No Deal because they kept feeding us lie after lie, being rude to me why would we want to continue receiving service from them and he called over 3 hours after our last conversion ended with I'll call you in ten minutes. Then he told him you can't cancel we will keep your deposit. My husband said "You have no deposit" He had called the creditors and put a stop as advised. Then he went on to say he signed an agreement. On the flip side of the leasing order there are additional terms and agreements. It was never discussed with us. I asked my husband if he signed it. He does not remember signing any terms agreements. On our copy the part that reads I have read the terms and conditions on the back thereof and agree to them as a part of this order. It is blank no signature. My worry is what if he did sign their copy and doesn't remember?
On their section for Lessee's refusal to purchase reads, if I fail to accept delivery of said motor vehicle within five days after I have been notified that it is ready for delivery, then I understand that nay deposit which I have made with this order whether by cash or by another motor vehicle turned in for trade shall be forfeited to you and be kept by you and at your option shall constitute liquidated damages for my breach of this agreement.
Can they sue us for the down payment? Do I still have to pick up the van from them. What do I do
#20 of 68 Re: Lease contract help. [ctmom]
by kyfdx HOST
Mar 01, 2007 (10:23 am)
Did you stop payment on the credit card?
If you don't take delivery, then you are in the clear... the contract isn't complete until you have the car.. No delivery, no money changes hands, no contract..
They are trying to bully you into taking the car.. Just say no..
(I'm not a lawyer and this is not legal advice).
#21 of 68 Re: Lease contract help. [ctmom]
Mar 01, 2007 (11:35 am)
Not a lawyer nor do I play one on TV...
how can they sue you for the down payment when there was never a VIN # on the lease order? In other words, there was no car.
they are trying to bully you. Just walk away.
#22 of 68 Re: Nissan Quest: Lease Questions [Car_man]
Apr 05, 2007 (1:06 pm)
Hello. I am in desperate need of help. I own a '02 Mercedes ML500 that I owe $26K on. I pay $636 a month and now need to lower my payments due to job etc. I also need a van (Nissan) that would be better for my family. I was thinking of leasing a 2004/05/06 for the lower payments but the car I have now is only worth $14-16000 trade in. Can I roll the negative equity into a lease? How do I get out of this nightmare????
#23 of 68 Re: Nissan Quest: Lease Questions [saab510]
Apr 06, 2007 (7:26 am)
I would find out what the true value of your ML500 is by going over to the "Real World Trade-In Values" forum under the Car shopping forum. There are a few dealers who deal with auctions all day/every day. they are kind enough to give you the going price on your vehicle at auction (ie trade in price). They can also give you an idea of the private sale price on a vehicle like yours. Right now you are looking at $10k negative equity. that is a lot to roll over into a new loan or lease and may not be possible. If you could, your payments probably won't be much less then the $636 you are currently paying.
Your best bet may be to sell your ML500 privately and somehow scrounge up the rest of the cash to pay off the remainder of the loan then purchase a Quest used. Although I would lean toward a used grand Caravan or MPV not because they are better vehicles but simply they will be cheaper to purchase. A leftover 2006 MPV can be had for $17k-$18k because Mazda has stopped production on these vehicles. Used for several thousand less.
Is the $26K the payoff amount or the total of the remaining payments? If my calculations are right, you have 40 payments left.
#24 of 68 2007 Nissan Quest SE Lease
Apr 09, 2007 (7:43 am)
I'm interested in a 2007 Nissan Quest SE fully loaded with Navigation and Carpeted Floor Mats. Can anyone provide Residual Value %ages and Money Factors for a 39 month lease? I currently have a dealer quote for a sign and drive deal (no money down other than first mo. payment and registration fees) for $513/month for 39 months (tax included). This reflects a $2000 Nissan customer loyalty incentive but no other cash down on my part).
However, the exterior color (Black) and interior color (Chili) that my wife wants are nowhere to be found in our area (NY tri-state). In fact, the fully loaded SE's with Navigation seem to be an extreme rarity. I've checked dealer inventories in numerous cities (Philly, Boston, DC) and only came up with two vehicles in the wrong colors. If the deal is a good one, how likely will it be that the dealer a) can find the vehicle and b) if he has to order it from the factory will honor the quote?
#25 of 68 Re: Nissan Quest: Lease Questions [saab510]
by Car_man HOST
Apr 23, 2007 (3:13 am)
Hi saab510. You may be able to roll part of the negative equity that you have in your current ML500 into a new lease, but unfortunately probably not the entire $10,000. Banks place caps on the amount that they will finance on leased vehicles. I am not sure what cap Nissan Motor Acceptance Corp. places on leases, but let's say that it is 105% to 110% of vehicles' MSRPs. A base 2007 Nissan Quest S has a spread of around $2,000 between its full MSRP and its dealer invoice price, so even if you were able to lease one at invoice you would only be able to roll $2,XXX of negative equity into your lease. If you really want to lower your monthly payment, you should be looking to get the least expensive vehicle possible. Do you really need to get a van? Perhaps an inexpensive sedan, like a Honda Accord or a Toyota Camry would be adequate. If you absolutely need a van, you may be able to get a better deal on a Dodge Grand Caravan.
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#26 of 68 Re: 2007 Nissan Quest SE Lease [barcap]
by Car_man HOST
Apr 23, 2007 (3:27 am)
Here's the information that you're looking for, barcap. Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Quest SE with 12,000 miles per year are .00121 and 46%, respectively. Unless Nissan allows consumers to lock in lease programs on ordered vehicles, you will not be able to use this program to calculate the monthly payment on your ordered Quest, but instead will have to use the program that is available when you physically take delivery of it.
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#27 of 68 Money Factor/Residuals on 2007 Quest
Jun 18, 2007 (12:38 pm)
Hi Car Man, can you tell me what the money factor and residual is on a 39 month lease of a 2007 Nissan Quest SL with 15k miles per year? Also for 12k miles per year?
I agreed to invoice price which I think is pretty good...
Thanks in advance for the help.
#28 of 68 Re: Money Factor/Residuals on 2007 Quest [ooomcooo]
by Car_man HOST
Jun 27, 2007 (2:23 am)
I sure can, ooomcooo. According to the latest information that I have seen, Nissan Motor Acceptance Corp.'s current buy rate lease money factor and residual value for a 39 month lease of a 2007 Nissan Quest SL with 15,000 miles per year are .00068 and 44%, respectively. This van's 12,000 mile per year residual value would be 1% higher. Dealer invoice is a very good selling price for a lease of an '07 Quest.
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