Is this normal or did I get played? Lease/Trade-In *Resolved*

Ask the Hackrs
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Hi Everyone,
I was looking for some advice to see if anyone has had an experience like this before.

I signed this lease today. It is for an Acura MDX 2022 Tech with a sticker of $53,445.
The agreed terms of the lease were 36/7500 $0DAS

As part of the deal, I had a Honda Odyssey lease maturing which had a payoff of $28,642. The dealer agreed to buy it of me for $39K. And I would be getting a check of $11K for the equity, less my first payment of $747.

In looking at this contract, eveyrthing looks so confusing. It looks like they inflated the Gross Capitalized cost and then used the equity to get my monthly payments. Is this a normal practice?

Is there a chance I will actually be getting the check that was discussed?

I do have a handwritten note on the “Delivery Summary” where the finance manager wrote and signed that a check is due to me for the equity. Will that be enough?

Thanks all for your help.

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I’m gonna say it as nice as I possibly can…

You got bent over and they didn’t even use Vaseline to soften the blow.

It’s deals like these that make “our” deals possible.

In case it wasn’t clear, you’re not getting any check.

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Is this correct? It’s a 2020?

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I didn’t even know 2020s were still leaseable

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Sorry 2022

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I’m just going to pretend this isn’t real. Because it makes more sense that this would be a joke post.

Or at the very least, I don’t have to feel as bad if it is fake.

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Agreed upon value of vehicle is $64k+. Oof Madone!

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not according to this lease agreement, no.

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Now that I see this is a 2022 this makes “a little” more sense, that’s sort of a large detail OP.

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Can you post this? But it does look like they mark up your new car by your equity.

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If that is true, this actually legal matter. You should call them up and demand a check immediately, and absence of it, you can take it to the court. A handwritten note would be enough.

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Please upload the document that says they owe you a check

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Here is the handwritten note by finance manager

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I uploaded the note

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When are they supposed to give you that check?

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at 747 with 747 due, you’re about 1000 over MSRP. i’m sure for florida, that’s pretty reasonable in this market. looks like they just marked up the sale price and showed the equity as a trade for some reason.

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Looks like they’re just making the vehicle up and then giving it back. I’m sure there’s a reason they’re doing the bookkeeping this way. Someone probably gets a bonus for amount over msrp or something.

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The deal is very confusing.

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Wouldn’t be the first time the contract is written weird with a check back like this.

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Did you check and see what Carvana, Vroom, or CarMax we’re offering for your trade?