very fair. Honestly, didn’t know anything about the ‘ding’ to dealers issue or timeframes…if I had known that upfront I wouldn’t have bothered asking, I’d have kept it (and intend to) through that period just to keep things on the up and up.
I agree, it is fair especially if it is something that is requested upfront. These dealers are absolutely doing many customers big favors; these deals do not have to be structured aggressively as they are. I think most people are unaware of the “ding” that can/does occur…as most people are also unaware of MOST aspects of the auto industry… lol
Finance/Lease contracts need to be held for 90 days for the bank to honor any markup on the rate or whatever flat they’re paying to ‘acquire’ the customer.
CCAP pays $250 on all of these deals right now.
Also, FCA has a stated 90 day required holding period, 1 year is using FFP, AR or EP.
Stores are supposed to have you sign a disclosure, when using a discount program, that you are liable for the profit they will receive by selling you the car under X program. If you do something that causes them to lose that, they will hold you responsible and seek reimbursement.
In 11 years of this + a few years @ an FCA store, I have yet to see them come after the customer. They do however, go after the stores.
This is old but a good idea of what I mean - https://www.ea.chrysler.com/EmpAdv/login/FP%20Details.pdf
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Share your 4XE build spec, order date and order status/delivery date.
Priced order confirmation (POC) & VON #: Nov 6th, 2021 for for Southeast region
22 Sahara 4XE, White/Saddle, 3 piece body color hardtop, Adv safety, Safety group, & Cold Weather
VIN# assigned: Nov 13th
Build sheet available: Jan 27th
Delivery: TBD
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It’s interesting that CCAP doesn’t simply enforce this rule from their end (I.e. not allowing buyouts at all in the first 90 days).
They likely can’t - non US bank with limited control or presence in the US.
How many Santander branches do you see in the US?
It probably helps that they and FCA are on the outs - Stellantis is creating their own, home grown credit arm.
New car flipping is a new phenomenon, anyway.
Great news - excited to see you rolling around locally.
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Can’t wait! I won’t be on your level for awhile but Ill try haha
Has anyone heard about the recall that is holding back production of all Jeep Hybrids? This is the first I am hearing of one for the MY22.
I haven’t seen any mention of a recall holding up hybrid production.
The two main recalls that I have seen are one of a batch of 4xes made last year over a week or so period for the odometer and early ones for a battery gasket replacement. Nothing recent though.
Not to mention that Santander has their own issues when it comes to underhanded moves with their customers. What’s good for the goose…
Can someone post a 2022 recent LH calc from a Gupton or leasecompanion order?
Hm. Just got an email from leasecompanion’s dealer that my order placed over 10 weeks ago is stuck because of that recall on all Jeep Hybrids (which is also preventing movement on ~100 vehicles for the dealer). Like you, I only remember those two recalls, so that should not be an issue now a days. Hearing that from the dealer is not leaving a great taste in my mouth.
Did they provide any details on what it was? It’s certainly possible something just came out. I’m sure they’re not making it up.
LC’s dealer told me yesterday that my 11/15 order “should arrive next month” according to the notes. He never mentioned a recall.
Side note, currently sitting at Cleveland airport waiting on a flight to DC to pick up my wife’s order.
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The NHTSA.gov website doesn’t show any new recalls, but it also doesn’t show the odometer recall, so take that for what its worth
I have a 4Xe Rubicon on order and planning to lease with CC. Is there any financial downfall to buying out the lease early if I decide I want to keep it for the long haul? Or is it better to run it through the lease and buy it out at the end? This is my first lease, so I am unsure on best practices.
That will be state dependent based on taxes
@AutoCompanion has spreadsheets with calculators on his marketplace post / spreadsheet. I believe @Clutch and @DistrictCars do as well.