End of Lease MSD Related Nightmare
01-28-2014, 04:49 PM
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End of Lease MSD Related Nightmare
For the time being I will hold out on revealing the Northeast dealership that is putting me through this current fiasco. I feel this information could provide some serious leverage if this issue isn't resolved soon.
First off the details.
Leased a 2010 G37XS. I utilized 9 MSD's at the time the contract was signed totalling $4,050. Lease payment was $343 w/tax with $0 down on a $41,000+ car. Deal of the century right?
Vehicle turn in date was December 25th, 2013. I returned it to (dealer to possibly be named soon) on December 22nd, 2013. This was not the dealer I had leased the vehicle from in the first place, but geographically was much closer. My vehicle was under mileage by about 4,500 miles and had $0 due from damages. I was NOT leasing another Infiniti as I am building a house and cannot modify my credit.
After I returned the vehicle a couple of weeks went by. I was waiting on my security deposit to be returned so I logged back into my account. Here is what I saw.
Residual Amount $25,010.10
Security Deposit $0.00
Disposition fee
(Turn-in Fee) $395.00
Excess Per Mile Charge $0.25/mile
Contracted Miles 32,513
Start Date 09/25/2010
Maturity Date 12/25/2013
2013/12/27 10 INFINITI G37 Payment -$20960.00
2013/12/27 10 INFINITI G37 Payment -$343.98
2013/10/30 10 INFINITI G37 Payment -$343.98
2013/10/25 10 INFINITI G37 Payment -$343.98
2013/09/25 10 INFINITI G37 Payment -$343.98
The entire time I had had my lease my security deposit was listed as $4,050 in that Contract Summary Screen. I immediately called IFS and was told that my car had been purchased by (dealer to be named soon) and that the dealer had used my security deposit as a credit to help pay for the car. Now how the hell my security deposit gets released from IFS WITHOUT any written consent from me is beyond my understanding. They are currently denying any liability and are placing it at the feet of the dealer.
The dealer on the other hand has claimed that the car was purchased and was in their system but they aren't sure why. Someone at IFS is currently trying to "track down" my money. Luckily, I have already had him assure me that I would not be charged a disposition fee for returning my vehicle. We are however going on 3 weeks of this.
Has anyone else experienced anything like this at the end of their lease? Do I have any options here? I have been shocked at the general lack of knowledge employees under this Infiniti brand have about their products. From test drives at (to be named dealership) where the salesperson was asking me what the 'red and blue colors were on the turny ***** meant' (hot and cold indicators on the hvac unit btw, I was thinking there was a hidden camera) to a women at IFS **assuring me** me that "interest rates have absolutely nothing to do with leasing honey," (with a confident condescending southern drawl) upon which I asked her if she had ever seen a $4,050 security deposit, and why someone might do that. She was perplexed. Am I wrong for being frustrated here?
First off the details.
Leased a 2010 G37XS. I utilized 9 MSD's at the time the contract was signed totalling $4,050. Lease payment was $343 w/tax with $0 down on a $41,000+ car. Deal of the century right?
Vehicle turn in date was December 25th, 2013. I returned it to (dealer to possibly be named soon) on December 22nd, 2013. This was not the dealer I had leased the vehicle from in the first place, but geographically was much closer. My vehicle was under mileage by about 4,500 miles and had $0 due from damages. I was NOT leasing another Infiniti as I am building a house and cannot modify my credit.
After I returned the vehicle a couple of weeks went by. I was waiting on my security deposit to be returned so I logged back into my account. Here is what I saw.
Contract Details
Account Number 290095xxxxxResidual Amount $25,010.10
Security Deposit $0.00
Disposition fee
(Turn-in Fee) $395.00
Excess Per Mile Charge $0.25/mile
Contracted Miles 32,513
Start Date 09/25/2010
Maturity Date 12/25/2013
Payment Activity
2013/12/27 10 INFINITI G37 Payment -$20960.00
2013/12/27 10 INFINITI G37 Payment -$343.98
2013/10/30 10 INFINITI G37 Payment -$343.98
2013/10/25 10 INFINITI G37 Payment -$343.98
2013/09/25 10 INFINITI G37 Payment -$343.98
The entire time I had had my lease my security deposit was listed as $4,050 in that Contract Summary Screen. I immediately called IFS and was told that my car had been purchased by (dealer to be named soon) and that the dealer had used my security deposit as a credit to help pay for the car. Now how the hell my security deposit gets released from IFS WITHOUT any written consent from me is beyond my understanding. They are currently denying any liability and are placing it at the feet of the dealer.
The dealer on the other hand has claimed that the car was purchased and was in their system but they aren't sure why. Someone at IFS is currently trying to "track down" my money. Luckily, I have already had him assure me that I would not be charged a disposition fee for returning my vehicle. We are however going on 3 weeks of this.
Has anyone else experienced anything like this at the end of their lease? Do I have any options here? I have been shocked at the general lack of knowledge employees under this Infiniti brand have about their products. From test drives at (to be named dealership) where the salesperson was asking me what the 'red and blue colors were on the turny ***** meant' (hot and cold indicators on the hvac unit btw, I was thinking there was a hidden camera) to a women at IFS **assuring me** me that "interest rates have absolutely nothing to do with leasing honey," (with a confident condescending southern drawl) upon which I asked her if she had ever seen a $4,050 security deposit, and why someone might do that. She was perplexed. Am I wrong for being frustrated here?
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