Can I arbitrage a lease I just bought?

Ask the Hackrs
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21

Even in Louisiana? Are you saying monthly use tax is calculated pre incentive, that would make sense.

For sure sales tax in the case of purchase in Louisiana is calculated after incentives, but use tax for a lease may not be.

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22

Is that really the contract you signed? It doesn’t look like a one-pay lease at all.

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23

I can help with the tax if you tell me what county/parish you’re registered in

1642.68 is 36 * 45.63 (your monthly tax amount, calculated as your total payment (Line L - 477.67) minus the base payment (Line J - 432.04) on your attached sheet)

45.63 is 10.561% of 432.04, which is an oddly inaccurate tax percentage. Are you in any of the 10.45% parrishes? (Allen, East Baton Rouge, Lincoln, etc.?)

24

No, I live in 8.95%, and they are in 9.25, just in case. I told them the same, and The new lease is even worse because it’s being done by an assistant, but the finance manager will be back today.

The monthly breakdown is all messed up, my incentives\cap reduction are not even listed, and monthly use tax is listed as the total of 36 payments.
They said that they couldn’t make the entries work out since it was a one pay period, I told them they should just put not NA if that’s the case.

You can see that the total monthly payments, are the total payments due at signing minus return fee. So that part works out.

25

If it’s not possible to get one within 1000 miles and discounts are steep, this hints not at lack of supply but of demand.

This all seems a lot of risk and hassle unless you’re very confident you can make several thousand out of it.

26

If the monthly is messed up don’t sign it. That contract literally says you’re on the hook for ocer $400/month.

27

Here’s the first lease, that says my monthly payment would be $1870 and after 36 payments is more than double the cars MSRP $67,000. So I know it’s not valid. What is important is that the total lease cost is the same as the money due at signing.

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30

Thanks for the example, I will definitely show them this. My original intent was to get this car, but after three weeks of borrowing someone else’s car I just can’t go any longer and will end up getting the Tacoma. I just hate letting a good deal go, and wasting all the time I spent on it.

31

Don’t. I’m not sure if Hyundai offers one pay leases, that was an example of a one pay contract. One pays reduce mf by putting the entire lease cost upfront. I’m sure someone like @Lvs23 can answer that question on one pays.

If Hyundai lets you buyout the lease, if this dealer can write it correctly, and you have no other ev rebates preventing you from buying out said lease, correct you can.

However, you must find a buyer, CA has a 10 day grace period letting you buyout and sell without tax (only in the nation afaik). If you find a buyer congrats, and enjoy.

32

Doesn’t matter as he isn’t in CA

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33

Based on the contracts you’re posting, you don’t currently have a deal. You have a nightmare.

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34

Who would pay $25,000 for a used car that they can buy new for $18,000?

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35

This scheme of yours not going to work out

36

Yea I think y’all would be right. The goal never was to make money, but what would happen in the case if I did. I just need a car, and a good deal after my wife’s BMW had catastrophic engine failure, and we lost about 9k. Worst case I will be stuck with a third car for $40 a month, or I would have to sell another one of mine. Y’all have definitely confirmed my suspicion that this dealership does not know what’s going on. If I can get this Tacoma sign to I will stop pursuing the Hyundai.

37

Oh no… the worst case would be you’d be stuck with one of these cars at the contract terms posted because they thought they’d done the onepay correct and didn’t do it at all.

38

Y’all have definitely confirmed my suspicion that this dealership does not know what’s going on. If I can get this Tacoma sign to I will stop pursuing the Hyundai.

I went to another Toyota place, and they argued with me up-and-down for 30 minutes that MSD’s do not decrease the MF, then admitted to me that they’ve never used them and had to call somebody about what they are. They also told me that there was incentives that weren’t really available, A residual that was wrong, and didn’t even have the car that was advertised.

Buying a new car really sucks.

39

Why are you going to dealers?

Identify a vehicle you want, do your research, make an offer, go in and sign when they accept. There’s no reason to subject yourself to their BS.

40

So do you have this car in your possession yet? Was it shipped to you?

41

I have definitely made offers through email and they were declined, and agreed to certain terms only to be bait and switched. I have talked to a broker, that has good deals, but I have to get the car shipped.

Discovering the transport system in this country has been eye-opening. I put my name in to get a car shipping quote and got 20 business is willing to ship the car, so I was sure I would have no trouble shipping the car from California to Louisiana. Come to find out they’re all just brokers that put in your name online and wait for a trucker to come pick it up. This Honda dealership is an hour away from the interstate, and nobody wants to go two hours out there away to pick it up. I had one broker even lie to me and say that they’re not a broker they have their own trucks and can pick it up anytime they want, only to find out that they do the same thing everyone else does and just put the pickup and price on the bulletin. So even if I get the Hyundai deal straight, i’m not sure I could find anyone to actually pick it up.

1 Like
42

Is the rent charge removed from remaining monthly payments for an early lease buyout?

So from the OP’s example above, is it 36 payments of $4000 minus total rent charge from the remaining monthly payments?