Can someone please help me figure out what the dealer did in the attached lease agreement - as its not what we agreed upon although the result is similar.
Below is a link to the calculator of the deal I negotiated with the dealer…
The result of the deal we agreed on (calculator link) would have discounted the car 11.32% (pre rebate) w/ $3,248 due at signing and ongoing payments of $828.00 (7% tax included).
The deal I ended with (attached) resulted in a 10.26% discount from MSRP (pre rebate) w/ $2,250 paid at signing (even though the agreement states $3,107.74) and ongoing payments of $860 (7% tax included).
So while my ongoing payments are ~$30 more ($1,080 over lease), my down was $998 less than expected. The difference can be attributed to additional government charges which is fine.
I am ok with the deal - just cant figure out what the finance guy did and why - he obviously rolled some of the charges into the lease but why would the “Amount to be Paid in Cash” differ from what I actually paid?
You need to discuss this with the dealer as it’s very important that you resolve this issue. Other than the 2250 that you claim is due upfront instead of 3107.74 (857.74 difference which is close your 860 payment), everything else looks fine except the taxes. I’ve seen instances of such disparities in which they capped the 1st payment by adding it to the sell price (agreed upon value). If they did, they made a slight mistake. Am I to understand that you owe EXACTLY 2250.00 upfront?
The tax on the payment is 56.26 based on 7.00% yet the tax on the 674-cap reduction is based on some funky rate of 6.48%… makes no sense. I have no idea how they arrive at a sales/use tax of 88.24.
Your MF = .00066 looks good. Have you signed this lease yet?
Not your problem if they collected less. Some dealers have trouble sorting out the math and will “short” the amount due at signing and just account for it some other way.
All that matters is the monthly and what actually came out of your pocket. I am sure some here will disagree with me, but at the end of the day that’s what it comes down to.
Yes - I signed it yesterday although this dealership has a method of signing the finance documents I havent seen before, they email the customer a “docusign type” of agreement to sign on the customers phone. Its impossible to properly review on a small phone after hours of negotiations. I returned home and reviewed on the comp.
I definitly paid $2,250 upfront, no matter what the agreement reflects. It seems to me that they did cap the first payment, like you said, its close to the difference betweet the cash requested and the cash accepted - although the agreement doesnt reflect this nor do the taxes.
The $ is reletivly small so not sure its worth making a scene - althoguh for the sake of my sanity, would have liked to know what they did and if on purpose or mistake.
It also seems to me like they faced internal constraints on how to get the agreed deal on paper as the manager went back and force with the finance guy several times.
I am fine with the final result (as long as their wont be future changes), I just couldnt understand how they got there.
The only things that concern me (for sanity’s sake) are the tax calculation disparities on the cap reduction and the 88 sales/use tax as well as the disparity in the amount due upfront. I just don’t want the dealer to claim later on that they made mistakes and ask you for more money. I doubt that will happen but it’s best to be prepared in case they do. If they made mistakes that are in your favor, that’s on them as you’ve already signed the agreement. When I was 15 years old, I quoted a customer a premium of 67 less than what it should have been for car insurance. My dad told me that when you’re in business, you eat your mistakes. He took the 67 out of my pay. Lesson learned.
