A dealer located in Wisconsin offered me a lease deal on a car that aligned with my proposed terms.
As we were about to close on the deal, they informed me that they cannot lease it to me because they can only lease to residents of Wisconsin and Illinois (for some reason he can also do Illinois because it borders them).
I’m a Missouri resident.
Is this normal for leases?
Additional question - I have a friend in WI and one friend in IL, could they just lease the car under their name for me to drive it in Missouri?
I would just pay them back for all the costs of the lease of course.
It’s probably not only due to the border but the two states likely have some reciprocity agreements on certain terms that happen to be crucial in regards to automotive leases
Laws that impact leasing from banking, taxation, registration to liability, have major differences from state to state. It’s totally normal that dealers in some states simply cannot or will not do deals out of state.
That said if you negotiated a smoking deal, can you just purchase/finance it instead? Or was there some crazy lease cash, residual or money factor subvention at play? I’m guessing not since none of those things are negotiable (well MF markup is I guess).
@derekoh1991 , now that you’ve seen the quote-sheet on the car he was hacking, do you think the lease would be LH-worthy? This forum loves to mock people who lease ICE for some reason, but I think some good ones are out there.