MSRP was $54,410 with a $510 rebate bringing the sub-total down to $53,910 before taxes.
I traded in a car with $7,257 equity (the manager said to get my payments down).
On top of that I put $2,500 down + first months payment of $569 + fees. Bringing my cost to $3937 down + their “applied trade in allowance” of $7257.
Here’s the paperwork:
Ultimately my cost of 3 year lease is $31,994 on a $53,000 car. I was just focused on the monthly numbers.
And somehow I signed the paper without even noticing this. I only somehow came to the realization after the fact and going in detail over the numbers.
I also notice they jacked up the Gross Capitalized Cost from the agreed MSRP of $53,910 to $57,589. Also somehow the Capitalized Cost Reduction doesn’t add up to the $2,500 down, $7,257 trade allowance, and $500 rebate.
What a mess
Dude… That sucks Looks like they just stole your trade in by those numbers. Next time, remember to check all the numbers and break out the calculator once that calculation sheet arrives. Even if the dealer isn’t out to screw you shit happens sometimes.
When going through the numbers in detail it seems my trade in applied to nothing. The price I’m paying now essentially reflects me just paying $2.5k down on 36 months
I did sign this:
Not sure if that even helps me or if this could be considered deceptive if they essentially stole my entire trade in.
Look like this may apply to my situation:
Auto Dealer “Swallowing” of Trade-Ins and Rebates on Leases
Is anyone able to look at that document and figure out where my trade-in amount went? I tried but can’t…wanted to see if I was missing anything before confronting them about this
I figured out how to manually calculate the lease payments:
$47771.90 - $31298.70 = $16473.20 / 36 months = $457
$2703.64 finance charge / 36 months = $75.10
$532 + $37.29 monthly sales tax = $569.98/month
I just caught two mistakes…they were going to include the Audi Care package in for free yet they tacked it onto the Gross Capitalized Cost. They also overcharged for the Wheel Protection which I was told was $650. That’s about $2,009.
Factoring in the reduction I’m getting $514/month after taxes…now there’s still the mystery where a lot of the trade in equity went to…
The trade in went to capaitalized cost reduction. They have used every trick in the book to fleece you. 845 doc fee!! Wheels protection package for 4k lol!!
Sorry man but did you already give them the keys to your trade? If not tell them you can’t do the deal and not to submit the paperwork.
Man this is criminal Sorry but find out if you can back out. This is a bad deal
I already did the paper work and took possession of the car…
The wheel protection (which also includes free dent repair) was quoted to me for an extra $18/month ($650 for the total term of the lease) but I just noticed they charged $1,800 for it. They also weren’t supposed to charge me for the $845 “Audi Care” package.
Just for that I’m going in tomorrow and having it fixed.
That should bring my monthly to $514/month…
No problems man. You will have better luck next time.
Thanks. At least I know what to look for in the future. Wish I found this website one day earlier
Bring it back. Raise hell. Some dealers have a return period.
What is the residual and mf? You should go back and try something, at a minimum get audi care and tire protection for free. Also, that much trade equity means dealer equity is about 12k since they plan on making a profit on your trade as well.
I did the same thing on my first lease over decade ago, but I had $8,500 trade in No one would give me anything close to Blue Book trade-in value and I found one dealer who did. Just like you, I wanted to have lower payments and I paid $226/mo on a $38K car. Not a big deal - I did not total my leased car and enjoyed it for 3.5 years (I extended my lease by 6 month). But, like others said, you got screwed by your dealer on all other fronts. Don’t know Florida laws, but you may have some grace period to return the car.
Plus you can generally cancel the audicare and wheels protection. So at least that will be some money back.
Sit down with the General Manager ASAP. Be calm and collected, and know exactly what modifications to the contract you are asking for. It’s not very likely, but we had at least one other member here who was able to get a signed contract modified due to the GM wanting to avoid a very dissatisfied customer.
This 2x. Chances of you getting a contract unwound is very low unless you live in a state with a cooling off period (ex. Michigan).
Talk to the dealer top management and see what can be cancelled or refunded immediately. Every hour you wait is less of a chance to get your contract modified or re-written.
The problem is once they know you won’t do business with them again, they have minimal incentive to give you back a couple thousand. Biggest threat would be to tell them you will service elsewhere, but that’s not worth as much to them.
I just spoke with the finance guy who I signed the documents with. He claims I got a great deal and they lost money…Really???
I keep bringing up the gross capitalized cost and how he got to that number but he kept transitioning ot the “adjust capitalized cost” number and kept saying “you agreed to” a bunch of times. But I feel this is deceptive.
This is my 5th car with them and my first lease
The finance guy probably gets a cut of the extra profit. He would never redo the contract; thinking of the dealership’s overall reputation is not part of his job description.
Why aren’t you sitting down face to face with the GM? Stop phoning anyone or posting here.
I’m going in right now to speak to the GM face to face.