Had this been a 12k lease, I wouldn’t have poo-pooed the 48 month term. On a 15k lease, however, keep in mind, you’re going to be out of bumper-to-bumper coverage for about 10k at the end of your lease, unless you continue to kick the can down the road and roll the remaining payments of this lease into a new one. You’re adding roughly 62 bucks a month + tax and interest on a car someone else is going to be driving for the next 4 years.
Unless you absolutely have to have this car today, wait until December. You’ll have fewer months to roll in from your Camry, and Lexus will run another “December to remember” sale, comparable to today’s numbers.
Edit, I overlooked the part where you signed, and only noticed the fact you didn’t take delivery yet. You may be stuck.
I’d seriously consider it. The 48 month RV is not desirable. 36 month should be the sweet spot. Also, what was the MSRP of the vehicle? Putting $6K down is a no-no. If you total the vehicle, you don’t get that money back. It would be better to put that amount toward your current vehicles negative equity and use the rest as MSD’s.
I’ve been trying to figure out exactly how this math is calculated. I did not put down $6k, I put down $2k plus first payment of $545.41, so I put down $2545.41 total.
The rebate they’re offering this month is $4750 and I’m not sure where that $6k comes into play, unless it was discounted from the vehicle.
CA has some rule, I think, where the deal isn’t official until you drive it off the lot, so technically, you can unwind it I believe. OP doesn’t list where he’s at though.
Another primary concern was the agreement itself upon presentation, which is why I’m so iffy the following day. I was told if I didn’t make the additional $545.41 payment and just put down $2k total that my payment would’ve been $558, $13 more. When signing process came, typo was still in agreement for the same $558 payment and needed to be adjusted. After adjustment I didn’t see this screen posted below. Total in payments is $33279.68, where as if you take $545.41 and multiply that by 48 mos, you receive the $26,179.68 that is listed in the middle. So where is this additional $7100 coming from on the right?
The total MSRP was $42,493.37 before any reductions.
I have no clue what the rule is in MA. I vaguely remember someone mentioning the rule in CA, and might be slightly off on my recollection as well.
Long story short, come here first next time before signing on the dotted line to get advice. At this point, if you signed, and can’t unwind it, it really doesn’t make a difference if you got burned or not, as there’s nothing you can do about it at this point anyways. Just enjoy the car and get advice before signing next time to avoid any potential pitfalls.
I would take internet lore with a huge truckload of salt…eg NJ or NY has a law allowing one to take an unsigned contract for 24 hr review. People still assume they have a 24hr cooling off period on a signed contract
it basically says the contract is not enforceable until you get copy of it which you get when you sign it and that you need to give written notice if you want to cancel it. Looks like you have a copy and signed it already.
