Do you have a quote sheet or anything in writing stating that your negotiated deal/monthly payment is for 15k?
Is the residual on your contract for 10k or 15k?
What does the contract state as Residue? If it matches for 15k miles then there should be no issue with it getting funded?
1 Like
Something is obviously wrong if the bank rejected it though.
Yes I agree with that. Just didnt see anything is his post that actually said the contract was rejected by u.s. bank. Just that the dealer called and said there was an mistake on the terms
Then USBank isn’t accepting the contract.
1 Like
Yes if the paperwork isnt correct they wont accept it. Im just saying if the paperwork is stating the correct residue for 15k miles then there is something else going on.
If the OP would upload a pic of the lease contract they can get some better feedback to see if there is something actually wrong with it
That’s different. Like @naderade said, let them take it back
How did this work out for you?
Out of curiosity, What would happen if in this scenario I had taken a road trip and turned the car in with let’s say 1200 miles. Would the dealer be even more incentivized to meet somewhere in the middle given if they completely unwind the deal now they have a vehicle that can’t be sold as completrly new?
An unwind can’t be sold as new regardless. So they won’t care. 1200 miles sucks for them but its not the worst ive seen
3 Likes
Don’t tease us like that…
1 Like
maybe a different viewpoint:
if you negotiated the deal at 15k, maybe they were trying to pull one over on you by switching to 10k.
I think the legal situation might vary by state, but in NY, the dealer is the lendor/lessor until they assign the contract to the bank. this means, worst case scenario for them, if it is a properly executed contract, you can make your lease payments to the auto dealership. there have been cases this has happened.
normally they will not want to do this, so will probably give in at some point.
Don’t mean to hijack the tread, but I just remembered a peculiar situation that happened about 10 years ago. I negotiated what I thought was a decent lease on Acura TSX over the internet /telephone. Upon arriving to the dealership to sign papers I noticed that contract was written out for 10k miles per year instead of 12k. I mentioned this fact and offered to re-negotiate. However, the finance Lady simply edited the document in the computer and printed it out with 12k miles. I also noticed she and my sales guy exchanged a couple of contentious whispers, but at the end the entire transaction was completed smoothly. Did my sales guy got into any kind of trouble/reduced commission?
They probably tried to pull a fast one on you, but you noticed. If you didn’t notice, they would have swallowed the difference as profit
1 Like
Wouldn’t the best outcome for both parties be to have the contract amended to reflect 15k RV, while also reducing the sale price so that your total out of pocket remains the same?
I agree that this sounds like an honest mistake, and don’t doubt it occurs frequently, however mistakes do cost money. It should’ve been caught by someone - the salesperson or finance manager.
Curious… Was the Residual Value percentage a part of your negotiation with the dealer? Or did you just work on selling price and mileage?
I am the O.P. The dealership business manager told me all this about 4:30 pm on a Friday afternoon. The following Monday I was on their sales floor hunting him down. A youngish fellow come out to greet me and stated he was just getting ready to call me. (I doubt it) Stated that “they took care of it and my contract that I signed was now
valid” He didn’t give me any specific’s and I didn’t ask. I didn’t really care to listen to any more of their nonsense and no interest in any of their b.s. explanation’s. Wished the salesman a Happy Birthday and walked out the door. JMO, but it is my thought they were just trying to get me to sign a new contract for, of course, a higher monthly lease payment. When it became obvious that wasn’t going to happen they made things right according to our prior contractual agreement. Thank you all for your comments.
1 Like
This is really weird outcome. If deal
was not funded, this would not happened?
Sounds like they ate the difference and fixed it to get it funded.
1 Like