Came across this Ad from a local (1 hour drive lol) dealer. Seemed too good to be true but decided to bite anyways. Ofc, they did not honor the deal like any good dealer, but I wanted to know, is this false advertising? I mean, they are clearly not using the term DAS the correct way (it excludes tax, title and dealer fee), but the kicker is the total payments/residual, which should dictate the cost of the lease. It doesn’t make sense here. Can anyone explain what they are actually offering?
Everyone here avoids dealer ads because they are a waste of time.
If you believe they are breaking the law that should be taken up with the appropriate authorities.
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Fair enough. I forgot myself for a moment.
One of my favorite dealer quotes was “look, I’m beating the national offer”.
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so what was their instore spiderweb offer?
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$586 @ 36/10 all fees not included.
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oh yah, that’s pretty bad, I assume the same 42k sticker?
Yeah lol. When I started breaking down the deal he’s like “are you a broker?” LOL. I wasn’t going to push him. It’s basically his best selling vehicle and I saw he was not offering any discounts.
This is the type of stuff that the CARS rule was meant to address. Although it remains to be seen how potentially misleading lease structures get enforced. The FTC is focusing on sales price for cash/loan purchases. If CARS goes in effect, we may see more dealerships skew toward confusing leases to squeeze more profit from unsuspecting clients.
A Ford dealership sales rep in NorCal told me that Ford Motor Credit won’t allow leases where sales tax (on rebates), doc fees, acquisition, title, and registration are capitalized. So they as a dealership will never quote lease payments (even if the customer asks for it) assuming capitalized inceptions. Lol. I hate shopping Fords.
Did you have a target payment/DAS put together for this car using the LH calc so you knew what they should look like?
No doubt. I was aiming for around $585 with 1st month DAS for an EX, or $515 w/1st Month for the S trim, Based on Aronchies July deals.
I knew right away that I was in trouble when the sales clerk said the stock number in the example was not available lol.
Did you put a calc together with expected discount/rebates/MF/RV to back those numbers up? Otherwise how did you come up with those numbers?
Yes, I did. I used the broker’s calc to start and did some research on the above to see what was feasible.
Then you don’t have a ‘false advertising’ claim. It was a One Only.
Once a dealer explained that the One Only in the ad was calculated without interest rates because those vary by customer.
I walked, of course.
The ad does say in the fine print that tax, title, and MV fees are not included. It also says includes all offers, which of course nobody can possibly qualify for. A very typical ad.
Technically true, but pretty A-hole move to make an entire ad for 1 vehicle.
Also, I was really drawn by the total payments / residual. If they honored that, which they should since thats what they advertised, I probably would have 8-10K equity in the car at the end of the lease.
You should have a ton of equity from financing it. I know I did. Best available pricing today is around $2,000 off which is a lot better than sticker for MY2022 and helps mitigate APR being higher.