HI
If lease paperwork is signed for a vehicle in transit and then the lease program rolls over the next month to new more benefical terms, does
A. The dealer have to provide the more beneficial terms?
B. Also does the dealer have to allow you to use MSD if the bank offers them?
Example: Residual on 12/30/21 is 75% On Jan 3 residual is now 76% and vehicle not delivered.
Basically can the financial part of the deal be restructured (not the price of vehicle) before delivery in NJ?
Thank you
I’ve never heard of anyone signing a lease before the vehicle hits the lot
The stated that by doing that it would hold the program terms unless they improved the following month. Paperwork not sent to finance company …all internal. I was puzzled too cause never heard of a dealer being able to hold term on a vehicle in transit. They did say I would have to sign new docs with the date the vehicle is delivered.
Signed vs stated by the dealer, apples to oranges. I have dealt with multiple dealers on ordering a new vehicle that I wanted to lease. The day you go to pickup the car, whatever the lease programs are in play for that month, that’s what you get to work with. Unless it’s within a few days of the last of the month is the exception. This is the biggest concern when ordering a new one. You have no idea what the lease programs, incentives and interest rates are until the car is on the lot and ready to go.
No, they don’t have to. Just like no one is obligated to tear up a signed contract.
But sounds like they verbally agreed that they would?
So what’s your question here? Why are you asking if they have to when they already said that they will? And no, no dealer is obligated to offer/accept MSD.
Question is would the finance company reject it if the terms on the lease agreement are diff than the program in effect on actual day of delivery?
The dealer said they will but that is not a cozy feeling. If they were legally obligated would be better.
Do not want to wait 10 days till delivery to find out they backtracked on “verbal” agreement which is unenforceable. Can I walk away from it at this point if they are unwilling to write up new numbers before delivery?
IANAA but it doesn’t sound like you have any legal recourse here.
Already explained no one is obligated to tear up a signed contract. If both parties agree to a new one, great, otherwise the old one stands.
Only small bit of leverage is whether the bank will accept the old one X days after it being signed. How many days is X before the bank declines? Who knows… IDK which bank you’re even talking about
Suing someone to enforce your verbal agreement wouldn’t be cost effective.