In Chicago, Illinois. Was at this dealer until nearly 2am on Nov 30. Told me the last day to receive an incentive of $3750 for a car the mgr was driving, 2021 ES300h, 4K miles, $53,675 msrp before it would not be available for lease, and only financing. They broke me down and I signed papers on a car they would transfer the next day from another location. I left feeling like I got a little beat up. $7500 down, $669/mo. My credit rating is good, not excellent.
When my salesman came in after I signed he high fived the business manager instead of congratulating me.
I’ve only bought my cars but due to my beloved Infiniti Q50S being a hot target for theft right now (it was taken in October) I decided to look around. Financing these cars at the moment seems cost prohibitive so decided to look into leasing. My friend who sold me the Infiniti used to work for Lexus and suggested he could connect me with great people at this place.
I realize I made all the rookie mistakes and I’m about to cancel my check. Wanted to hear from some experts before I make this call back to the business manager. Thanking you in advance and happy to have found such a knowledgeable group.
UPDATE
Deal is being canceled without issue. Thanks for the feedback. It definitely helped.
If a “high five” took place at the Lexus dealer I typically use…I think they would not have a job the next day. Before cancelling the check I’d reach out to the dealer and see if they’ll unwind the deal. If you are courteous, they will often times unwind it and give you your check back. Don’t blow up on them and start threatening legal action until you give them a chance to cancel the whole deal.
Many states allow dealers to have customers sign a spot delivery agreement, waiving their rights for a “cool down” period post-transaction. Believe that if this was signed in this case, the deal is unlikely to be unwound.
The first rule of leasing is that if you are in Chicago proper, you do not ever lease a car.
I am a night owl, and as soon as the vacuum cleaners started up I would have left. At least 5 hours after close? For a car you have never even driven?
I guess enjoy your ES300h fart car
If OP signed the spot delivery agreement could the dealer still unwind the deal as a courtesy?
If you got held up at work until 2 in the morning only to have someone running to unwind a deal, would you do it? I wouldn’t.
The same courtesy that involved keeping them 5 hours after close and a high-5 for the bros who hit their number?
Judging by their actions I doubt any “courtesy” would take place…lol
Doesn’t hurt to try.
The deal hasn’t been funded, the car hasn’t been titled, so they could do anything, sure.
This is why you work your deals out through email or phone before you go in person, and never when you’re sitting in the dealership.
Are you kidding?
What credit score was used for the transaction?
Not to be rude, but any reason you did consult with the experts here before signing this awful deal?
I found this place after I signed… I was researching but didn’t have the right questions to ask, so arrived at the wrong answers…After going through the process, I had better informed questions and then ding, found this group. No offense taken.
@creative1 - Care answering that?
EDIT:
Just curious, but when did you start researching before signing this deal? Days before the end of the month?
In dealer’s scores Fico 8, it falls in the “good” category.
What is the actual number? 680?
Yes, to be honest. Is that wrong? It seemed to be somewhat simple (again, having never done it) and I was also conferring with salesman friend who I thought would provide good advice. I had not considered leasing, I had to wait on insurance to complete the claim as well. Good questions, though slightly bordering on judgemental. But I guess this is the internet so probably just me projecting.
yes, right on.
I didn’t hold them up, they held me up as I said many times, I could come back - they pressured me to stay to do the deal on this car before it couldn’t be leased.
well, now I know. thanks.