Dealer has sent "Notice of Election to Rescind" after 1 month of lease signature

TheCarlady · January 30, 2019, 10:29pm

I took delivery of my new 2019 ACURA MDX leased through AFC. By the time I got home (about an hour later) I had 4 emails from Acura (NOT the dealership) Who were you making the payments to? I just read my entire lease. I am a NY resident with a NY lease and there is no right of recission clause in my lease. I have no idea whether yours was a good or great lease. Perhaps they figured the price on a bank with a high reserve and then found out they no longer had such a high reserve. I once had a client with a lease they had figured incorrectly (NY contract, CT resident) they screwed up the taxes. They asked him to sign a new contract which they mailed to him and he mailed back. The BUYER’S ORDER is a different story. They or you can cancel the deal…BEFORE delivery…NOT after! It is NOT a contract although the dealer would like you to think so. Have you received a bill from a bank for the 2nd payment?

mp11477 · January 30, 2019, 10:47pm

Captive can decide not to fund it for whatever reason though. The contract is with them. Google search for “spot delivery” as one example.

Cody_Carter · January 30, 2019, 11:28pm

I’m thinking OP figured it out and it’s nothing big. Since we haven’t seen an update. Now it’s all speculation

joeblogs · January 31, 2019, 12:16am

Yeah but if you’re a lawyer, then they have to do the deal…

mp11477 · January 31, 2019, 12:19am

Always wanted to be a lawyer as a kid. Glad I woke up.

mp11477 · January 31, 2019, 12:19am

If op wants to add anything further, pm me.

mobajwa · March 11, 2019, 9:17am

Hi guys,

I wasn’t able to get back with an update earlier as I was travelling internationally. Now that I am back, I am posting this for everyone’s reference.

I contacted the dealership upon return to the US and I was told that there was a new contract that I had to sign because the Honda Clarity has a unique contract letter head that they were out of when I first leased the car.

I have now signed the contract on the correct Honda Clarity letter head, and I have been told that the issue should be resolved.

For reference,

Here is the letterhead of the first contract i signed.