Lease "rebate" and warning
#1
Lease "rebate" and warning
Well, just leased for the first time. Everything went great on the price and residual and money factor. Hell began when they sent me to the finance office. Two hours of trying to sell me crap. Geez. But then the kicker was they wanted more money down. They didn't ask for it, just put it in the contract. "Oh no, see, we take 1,000 off on this side, so your down payment is really the same."
So there is a 1k rebate to dealer if you are a first time leasee, (probably the same one that you get if you are a returning customer) I mention this as you may be able to negotiate something for this money.
However, they put it on the paper work as capitalized cost reduction, in the first line, of which I was not paying any of. After fighting for quite a while, and realize I was 3 hours from home and they saw me sell my vehicle (car max offered 4k more for it), I just gave in and signed. In theory I only payed for the tax on their rebate. (capitalized cost reduction is early payments, and is taxed)
I know you would have held out and walked home, but I had to be to work early and if 88 dollars (and the other crap I'm sure they jammed in there somewhere) was what it took to get out of there I was paying it.
So, if you can, get an example of the contract before you sell your car. I wanted to sell the car first as I wasn't sure Car Max would honor the price and didn't need two cars to drive. So anyway. Live and learn. And none of the dealers mentioned the 595 lease acquisition fee either.
So there is a 1k rebate to dealer if you are a first time leasee, (probably the same one that you get if you are a returning customer) I mention this as you may be able to negotiate something for this money.
However, they put it on the paper work as capitalized cost reduction, in the first line, of which I was not paying any of. After fighting for quite a while, and realize I was 3 hours from home and they saw me sell my vehicle (car max offered 4k more for it), I just gave in and signed. In theory I only payed for the tax on their rebate. (capitalized cost reduction is early payments, and is taxed)
I know you would have held out and walked home, but I had to be to work early and if 88 dollars (and the other crap I'm sure they jammed in there somewhere) was what it took to get out of there I was paying it.
So, if you can, get an example of the contract before you sell your car. I wanted to sell the car first as I wasn't sure Car Max would honor the price and didn't need two cars to drive. So anyway. Live and learn. And none of the dealers mentioned the 595 lease acquisition fee either.
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